Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by PGGM Investments

PGGM Investments increased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 33.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,480 shares of the information technology service provider’s stock after purchasing an additional 25,069 shares during the quarter. PGGM Investments’ holdings in Cognizant Technology Solutions were worth $7,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $26,000. NBC Securities Inc. acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth about $27,000. Valley National Advisers Inc. boosted its position in shares of Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after acquiring an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $52,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Cognizant Technology Solutions by 26.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock worth $52,000 after acquiring an additional 162 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTSH has been the subject of several analyst reports. Societe Generale reaffirmed a “sell” rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. Barclays lowered their price objective on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday. Susquehanna reissued a “neutral” rating and issued a $80.00 target price (down from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Citigroup reduced their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.13.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded up $0.18 during trading hours on Friday, reaching $66.94. 2,818,907 shares of the company’s stock were exchanged, compared to its average volume of 3,583,097. The company has a market cap of $33.33 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. The company’s 50 day moving average is $73.52 and its two-hundred day moving average is $72.53. Cognizant Technology Solutions Co. has a 1 year low of $58.47 and a 1 year high of $80.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared 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 of this dividend was Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s dividend payout ratio is currently 28.57%.

Insider Buying and Selling

In related news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.