2,878 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC acquired a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,878 shares of the information technology service provider’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its holdings in Cognizant Technology Solutions by 3.5% during the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after buying an additional 40,226 shares during the last quarter. CGN Advisors LLC bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $1,294,000. ICICI Prudential Asset Management Co Ltd boosted its holdings in Cognizant Technology Solutions by 50.7% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after buying an additional 144,535 shares during the last quarter. Todd Asset Management LLC boosted its holdings in Cognizant Technology Solutions by 24.4% during the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock worth $33,568,000 after buying an additional 85,539 shares during the last quarter. Finally, Matthews International Capital Management LLC boosted its holdings in Cognizant Technology Solutions by 52.0% during the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after buying an additional 17,134 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $82.47 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $82.23 and its 200-day simple moving average is $79.38. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The firm has a market cap of $40.79 billion, a PE ratio of 18.29, a P/E/G ratio of 2.11 and a beta of 1.12.

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

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. 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 yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CTSH shares. UBS Group raised their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Barclays upped their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Morgan Stanley upped their price target on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, 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.