Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC raised its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 101.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,219 shares of the information technology service provider’s stock after purchasing an additional 3,129 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Cognizant Technology Solutions by 32.8% during the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after acquiring an additional 4,365,493 shares during the period. Boston Partners grew its position in Cognizant Technology Solutions by 3.0% in the third quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after acquiring an additional 231,782 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Cognizant Technology Solutions by 5.0% during the 3rd quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after buying an additional 294,415 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cognizant Technology Solutions by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,042,016 shares of the information technology service provider’s stock worth $206,066,000 after buying an additional 28,455 shares during the period. Finally, Stifel Financial Corp raised its stake in Cognizant Technology Solutions by 3.6% during the 3rd quarter. Stifel Financial Corp now owns 1,680,009 shares of the information technology service provider’s stock valued at $113,804,000 after purchasing an additional 58,422 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of recent research reports. Citigroup dropped their price objective on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Evercore ISI lifted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. BMO Capital Markets reduced their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, Susquehanna dropped their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $75.63.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded up $0.18 during trading on Friday, reaching $66.45. The company had a trading volume of 1,181,752 shares, compared to its average volume of 4,305,561. Cognizant Technology Solutions Co. has a 1-year low of $60.26 and a 1-year 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. The firm’s 50-day simple moving average is $72.58 and its 200 day simple moving average is $72.47. The firm has a market capitalization of $33.08 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.49 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.64%. The company had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the company posted $1.11 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.81%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

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.