VeraBank N.A. Sells 179 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

VeraBank N.A. decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,117 shares of the information technology service provider’s stock after selling 179 shares during the quarter. VeraBank N.A.’s holdings in Cognizant Technology Solutions were worth $470,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Addison Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $30,000. Trust Co. of Vermont grew its holdings 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 valued at $34,000 after purchasing an additional 292 shares during the last quarter. Eastern Bank acquired a new position in Cognizant Technology Solutions during the 3rd quarter worth approximately $37,000. Finally, Spire Wealth Management lifted its stake 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 purchasing an additional 204 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CTSH shares. TD Cowen boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Barclays boosted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Morgan Stanley raised their price objective on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.67.

Cognizant Technology Solutions Trading Up 1.3 %

Shares of CTSH stock opened at $90.70 on Friday. The stock has a market capitalization of $44.97 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.32 and a beta of 1.07. The company has a current ratio of 2.09, a quick ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $80.35 and its 200 day moving average is $78.11. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share 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%. Research analysts expect that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is presently 26.61%.

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.