Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,123 shares of the information technology service provider’s stock after buying an additional 1,074 shares during the quarter. OLD National Bancorp IN’s holdings in Cognizant Technology Solutions were worth $916,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vision Capital Management Inc. increased its stake in Cognizant Technology Solutions by 0.4% in the 4th 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 in the last quarter. Nilsine Partners LLC increased its stake in Cognizant Technology Solutions by 4.3% in the 4th quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock valued at $284,000 after purchasing an additional 156 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its stake in Cognizant Technology Solutions by 5.4% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 3,241 shares of the information technology service provider’s stock valued at $220,000 after purchasing an additional 165 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 178 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CTSH shares. Evercore ISI raised their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Royal Bank of Canada raised their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. Barclays raised their price target on 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. BMO Capital Markets dropped their price target on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, February 7th. Finally, Susquehanna reissued a “neutral” rating and set a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.44.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $67.77 on Wednesday. Cognizant Technology Solutions Co. has a twelve month low of $58.09 and a twelve month high of $80.09. The stock has a market capitalization of $33.74 billion, a P/E ratio of 16.14, a PEG ratio of 1.55 and a beta of 1.06. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $74.13 and its 200 day moving average price is $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

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

Cognizant Technology Solutions Company 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.