Tobam Sells 347 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tobam trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 23.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,114 shares of the information technology service provider’s stock after selling 347 shares during the period. Tobam’s holdings in Cognizant Technology Solutions were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions in the third quarter worth $30,000. Trust Co. of Vermont raised its stake in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 292 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. Finally, Eastern Bank acquired a new stake in Cognizant Technology Solutions during the third quarter worth about $37,000. 92.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CTSH shares. Mizuho upped their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets upped their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, TD Cowen raised their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.22.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $86.20 on Friday. The company has a market capitalization of $42.74 billion, a P/E ratio of 19.07, a PEG ratio of 2.21 and a beta of 1.07. The company has a fifty day moving average price of $79.44 and a 200-day moving average price of $77.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $87.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced 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 17.08% and a net margin of 11.60%. As a group, equities analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be issued a $0.31 dividend. The ex-dividend date is Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.44%. 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.