Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,352 shares of the information technology service provider’s stock after buying an additional 36,044 shares during the period. Sei Investments Co. owned approximately 0.12% of Cognizant Technology Solutions worth $45,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTSH. American Century Companies Inc. raised its position in shares of Cognizant Technology Solutions by 1.6% in the 4th quarter. American Century Companies Inc. now owns 1,669,690 shares of the information technology service provider’s stock valued at $128,399,000 after purchasing an additional 27,037 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Cognizant Technology Solutions by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 46,993 shares of the information technology service provider’s stock worth $3,614,000 after buying an additional 14,852 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Cognizant Technology Solutions by 4.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,992 shares of the information technology service provider’s stock worth $307,000 after buying an additional 165 shares during the period. Holderness Investments Co. purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at $201,000. Finally, Teacher Retirement System of Texas increased its position in shares of Cognizant Technology Solutions by 324.5% in the 4th quarter. Teacher Retirement System of Texas now owns 426,098 shares of the information technology service provider’s stock valued at $32,767,000 after acquiring an additional 325,724 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CTSH. 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. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, UBS Group reduced their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Fifteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.71.

Cognizant Technology Solutions Stock Up 2.0 %

Shares of CTSH opened at $77.94 on Tuesday. The firm has a market cap of $38.55 billion, a P/E ratio of 17.28, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The stock’s 50 day moving average is $82.68 and its two-hundred day moving average is $79.47. 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 (NASDAQ:CTSH) last released its quarterly 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%. Analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.59%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

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.