Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,081,993 shares of the information technology service provider’s stock after selling 8,750 shares during the quarter. Rhumbline Advisers’ holdings in Cognizant Technology Solutions were worth $83,205,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CTSH. State Street Corp lifted its stake in shares of Cognizant Technology Solutions by 3.6% during the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after buying an additional 867,176 shares during the period. Geode Capital Management LLC raised its stake in Cognizant Technology Solutions by 1.3% during the third quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after purchasing an additional 173,667 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Cognizant Technology Solutions by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock valued at $250,428,000 after acquiring an additional 44,129 shares during the period. Cibc World Market Inc. raised its stake in shares of Cognizant Technology Solutions by 34.0% in the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock valued at $214,141,000 after acquiring an additional 705,946 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Cognizant Technology Solutions by 29.7% in the 3rd quarter. Bank of Montreal Can now owns 2,748,982 shares of the information technology service provider’s stock valued at $211,369,000 after acquiring an additional 628,970 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Barclays lifted their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Mizuho lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.67.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Up 1.3 %

Cognizant Technology Solutions stock opened at $90.70 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $80.35 and a two-hundred day moving average price of $78.11. The firm has a market capitalization of $44.97 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.32 and a beta of 1.07. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its 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 net margin of 11.35% and a return on equity of 16.78%. Sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be paid 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 dividend yield of 1.37%. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.61%.

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.