Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Position Lifted by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,995 shares of the information technology service provider’s stock after purchasing an additional 435 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cognizant Technology Solutions were worth $1,284,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTSH. D.A. Davidson & CO. purchased a new position in Cognizant Technology Solutions during the first quarter valued at approximately $256,000. Canada Pension Plan Investment Board lifted its stake in Cognizant Technology Solutions by 84.4% in the first quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock valued at $24,140,000 after acquiring an additional 123,220 shares during the last quarter. Cetera Investment Advisers lifted its stake in Cognizant Technology Solutions by 9.4% in the first quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock valued at $1,594,000 after acquiring an additional 1,523 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $239,000. Finally, Brighton Jones LLC lifted its stake in Cognizant Technology Solutions by 18.7% in the first quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock valued at $312,000 after acquiring an additional 550 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price for the company. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price on the stock. Barclays boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 23rd. Societe Generale reaffirmed a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. Finally, Wedbush boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $75.65.

Cognizant Technology Solutions Stock Up 0.3 %

Shares of NASDAQ CTSH opened at $67.71 on Thursday. The firm’s 50-day simple moving average is $74.87 and its 200 day simple moving average is $72.55. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12-month low of $58.09 and a 12-month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.57%.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

About Cognizant Technology Solutions

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.