Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,549 shares of the information technology service provider’s stock after buying an additional 433 shares during the period. Frank Rimerman Advisors LLC’s holdings in Cognizant Technology Solutions were worth $504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sienna Gestion increased its position in Cognizant Technology Solutions by 680.3% during the 4th quarter. Sienna Gestion now owns 109,803 shares of the information technology service provider’s stock valued at $8,443,000 after buying an additional 95,731 shares in the last quarter. Postrock Partners LLC purchased a new stake in Cognizant Technology Solutions during the 4th quarter valued at about $3,182,000. Commonwealth Equity Services LLC grew its stake in Cognizant Technology Solutions by 1.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 43,176 shares of the information technology service provider’s stock valued at $3,320,000 after purchasing an additional 503 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Cognizant Technology Solutions during the 4th quarter valued at about $24,923,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Cognizant Technology Solutions by 3.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 103,758 shares of the information technology service provider’s stock valued at $7,961,000 after purchasing an additional 3,500 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTSH. Barclays boosted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley dropped their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. BMO Capital Markets boosted their price target on 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. Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $83.39.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $79.12 on Monday. The company has a market capitalization of $39.13 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.11 and a beta of 1.12. The business’s 50 day moving average is $82.38 and its two-hundred day moving average is $79.42. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping 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%. 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 announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

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.