Concurrent Investment Advisors LLC Increases Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Concurrent Investment Advisors LLC grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,688 shares of the information technology service provider’s stock after buying an additional 727 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CTSH. International Assets Investment Management LLC purchased a new stake in Cognizant Technology Solutions during the 3rd quarter worth about $1,972,000. Ballentine Partners LLC lifted its holdings in Cognizant Technology Solutions by 18.9% during the 3rd quarter. Ballentine Partners LLC now owns 6,874 shares of the information technology service provider’s stock worth $531,000 after buying an additional 1,091 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cognizant Technology Solutions by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 120,832 shares of the information technology service provider’s stock valued at $9,291,000 after purchasing an additional 21,592 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cognizant Technology Solutions by 8.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,134 shares of the information technology service provider’s stock valued at $3,561,000 after purchasing an additional 3,647 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Cognizant Technology Solutions by 1.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,275,786 shares of the information technology service provider’s stock valued at $97,601,000 after purchasing an additional 18,861 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research reports. UBS Group boosted their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho boosted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.67.

Cognizant Technology Solutions Stock Performance

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

Cognizant Technology Solutions (NASDAQ:CTSH) last released its 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 return on equity of 16.78% and a net margin of 11.35%. Research analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company 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 dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.47%. Cognizant Technology Solutions’s payout ratio is 27.49%.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.