Holderness Investments Co. Buys Shares of 2,614 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Holderness Investments Co. purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,614 shares of the information technology service provider’s stock, valued at approximately $201,000.

Other large investors also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Trust Co. of Vermont lifted its stake 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 buying an additional 292 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. Spire Wealth Management grew 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 buying an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 1.0 %

Shares of CTSH opened at $76.42 on Friday. The firm has a market cap of $37.80 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The stock has a 50 day simple moving average of $82.66 and a two-hundred day simple moving average of $79.43. 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:CTSH) last released its 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 net margin of 11.35% and a return on equity of 16.78%. On average, analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was 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 1.62%. Cognizant Technology Solutions’s dividend payout ratio is currently 27.49%.

Analysts Set New Price Targets

A number of research firms have recently commented on CTSH. Barclays raised 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday. UBS Group cut their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.71.

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.