Larson Financial Group LLC Lowers Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Larson Financial Group LLC reduced its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 16.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,794 shares of the information technology service provider’s stock after selling 347 shares during the quarter. Larson Financial Group LLC’s holdings in Cognizant Technology Solutions were worth $138,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Retirement Systems of Alabama increased its position in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock valued at $91,678,000 after purchasing an additional 40,226 shares during the last quarter. CGN Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $1,294,000. ICICI Prudential Asset Management Co Ltd increased its position in shares of Cognizant Technology Solutions by 50.7% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock valued at $33,041,000 after purchasing an additional 144,535 shares during the last quarter. Todd Asset Management LLC increased its position in shares of Cognizant Technology Solutions by 24.4% during the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock valued at $33,568,000 after purchasing an additional 85,539 shares during the last quarter. Finally, Matthews International Capital Management LLC increased its position in shares of Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after purchasing an additional 17,134 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $82.47 on Wednesday. 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 business has a 50 day moving average of $82.23 and a 200 day moving average of $79.38. The company has a market capitalization of $40.79 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share 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, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share 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. Investors of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was 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 currently 27.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group lifted their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their price objective 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. Morgan Stanley lifted their price objective on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.67.

Cognizant Technology Solutions Company 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.