Kensington Investment Counsel LLC Sells 2,686 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kensington Investment Counsel LLC cut its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,468 shares of the information technology service provider’s stock after selling 2,686 shares during the period. Kensington Investment Counsel LLC’s holdings in Cognizant Technology Solutions were worth $344,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTSH. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Trust Co. of Vermont boosted its holdings in shares of Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after buying an additional 292 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Spire Wealth Management boosted its holdings in shares of Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $37,000. 92.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CTSH shares. Morgan Stanley cut their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. BMO Capital Markets increased their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada increased their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Finally, Barclays upped their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.50.

Cognizant Technology Solutions Trading Up 1.1 %

NASDAQ CTSH opened at $80.02 on Tuesday. The firm has a market capitalization of $39.58 billion, a P/E ratio of 17.74, a PEG ratio of 2.11 and a beta of 1.12. The business has a fifty day simple moving average of $82.46 and a 200 day simple moving average of $79.44. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.55%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.