Yacktman Asset Management LP Has $312.25 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Yacktman Asset Management LP lowered its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.0% during the fourth quarter, HoldingsChannel reports. The fund owned 4,060,519 shares of the information technology service provider’s stock after selling 555,266 shares during the quarter. Cognizant Technology Solutions comprises about 3.7% of Yacktman Asset Management LP’s portfolio, making the stock its 9th largest holding. Yacktman Asset Management LP’s holdings in Cognizant Technology Solutions were worth $312,254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Addison Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions during the 3rd quarter worth about $30,000. Trust Co. of Vermont grew its position in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares during the last quarter. Eastern Bank acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $37,000. Finally, Spire Wealth Management raised its position in shares of Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.9 %

Cognizant Technology Solutions stock opened at $86.96 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $79.55 and its two-hundred day moving average price is $77.65. The firm has a market capitalization of $43.12 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $87.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last released 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 predict that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be given a $0.31 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.61%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays increased their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho increased their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. UBS Group boosted their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Morgan Stanley boosted their price objective on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Sixteen 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 target price of $83.67.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

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.