Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Todd Asset Management LLC

Todd Asset Management LLC increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 24.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 436,509 shares of the information technology service provider’s stock after purchasing an additional 85,539 shares during the quarter. Todd Asset Management LLC owned 0.09% of Cognizant Technology Solutions worth $33,568,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Cognizant Technology Solutions by 146.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock worth $126,940,000 after purchasing an additional 978,579 shares during the last quarter. ING Groep NV raised its holdings in shares of Cognizant Technology Solutions by 61.5% in the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock worth $191,280,000 after acquiring an additional 943,372 shares during the last quarter. State Street Corp raised its holdings in shares of Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after acquiring an additional 867,176 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Cognizant Technology Solutions in the third quarter worth $61,744,000. Finally, Cibc World Market Inc. raised its holdings in shares of Cognizant Technology Solutions by 34.0% in the fourth quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock worth $214,141,000 after acquiring an additional 705,946 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Mizuho boosted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Barclays boosted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Morgan Stanley boosted their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.67.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $84.55 on Tuesday. The business has a 50 day simple moving average of $81.18 and a 200 day simple moving average of $78.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market capitalization of $41.82 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Cognizant Technology Solutions Profile

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.