Royal London Asset Management Ltd. Buys 11,655 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Royal London Asset Management Ltd. grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 216,541 shares of the information technology service provider’s stock after purchasing an additional 11,655 shares during the period. Royal London Asset Management Ltd.’s holdings in Cognizant Technology Solutions were worth $16,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CTSH. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $28,000. Trust Co. of Vermont boosted its position in shares of Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Spire Wealth Management boosted its position in shares of Cognizant Technology Solutions by 74.7% during the 4th 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 in the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $76.42 on Friday. 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 has a market capitalization of $37.80 billion, a PE ratio of 16.94, a P/E/G ratio of 2.11 and a beta of 1.12. The firm has a fifty day simple moving average of $82.66 and a 200 day simple moving average of $79.45. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping 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%. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.62%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CTSH. Morgan Stanley reduced their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Barclays raised their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. UBS Group dropped their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $83.71.

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.