Cognizant Technology Solutions Co. (NASDAQ:CTSH) Position Increased by IFG Advisory LLC

IFG Advisory LLC lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 45.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 67,119 shares of the information technology service provider’s stock after acquiring an additional 20,874 shares during the quarter. IFG Advisory LLC’s holdings in Cognizant Technology Solutions were worth $5,070,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Sandy Cove Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 7.2% in the fourth quarter. Sandy Cove Advisors LLC now owns 4,359 shares of the information technology service provider’s stock worth $329,000 after purchasing an additional 292 shares in the last quarter. Vision Capital Management Inc. grew its holdings in Cognizant Technology Solutions by 0.4% during the fourth quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock valued at $2,916,000 after purchasing an additional 144 shares during the last quarter. Alhambra Investment Management LLC grew its holdings in Cognizant Technology Solutions by 2.6% during the fourth quarter. Alhambra Investment Management LLC now owns 14,014 shares of the information technology service provider’s stock valued at $1,058,000 after purchasing an additional 351 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cognizant Technology Solutions by 11.1% during the fourth quarter. Pacer Advisors Inc. now owns 59,368 shares of the information technology service provider’s stock valued at $4,484,000 after purchasing an additional 5,909 shares during the last quarter. Finally, CVA Family Office LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $122,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Up 1.7 %

Shares of NASDAQ CTSH opened at $73.62 on Thursday. The stock has a market cap of $36.65 billion, a PE ratio of 17.53, a PEG ratio of 1.65 and a beta of 1.07. The business has a fifty day moving average of $76.93 and a two-hundred day moving average of $72.42. Cognizant Technology Solutions Co. has a 52-week low of $58.09 and a 52-week high of $80.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data 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. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $1.01 earnings per share. As a group, equities 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.63%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.57%.

Analysts Set New Price Targets

Several equities analysts have commented on CTSH shares. Guggenheim started coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price target on the stock. Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $85.00 in a research note on Thursday, January 11th. Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Citigroup raised their price objective on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, BMO Capital Markets lowered their price objective on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $75.38.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by company 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.