Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Natixis

Natixis trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 59.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 606,879 shares of the information technology service provider’s stock after selling 879,867 shares during the period. Natixis’ holdings in Cognizant Technology Solutions were worth $46,669,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $28,000. Trust Co. of Vermont grew its position in shares of Cognizant Technology Solutions by 188.4% during the fourth 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 during the last quarter. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions during the 4th quarter valued at about $36,000. Spire Wealth Management increased its position in Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at about $37,000. Institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, March 27th. Morgan Stanley dropped their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. UBS Group decreased their price target on 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. BMO Capital Markets boosted their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, February 6th. Finally, StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $84.44.

Get Our Latest Stock Analysis on Cognizant Technology Solutions

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $69.44 on Friday. The stock’s 50-day moving average is $78.81 and its two-hundred day moving average is $78.83. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The firm has a market cap of $34.35 billion, a P/E ratio of 15.40, a PEG ratio of 2.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating 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%. Analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has authorized a stock buyback plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.79%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 27.49%.

Cognizant Technology Solutions Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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