Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Position Lifted by Graypoint LLC

Graypoint LLC grew its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,795 shares of the information technology service provider’s stock after buying an additional 134 shares during the period. Graypoint LLC’s holdings in Cognizant Technology Solutions were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $30,000. Pinnacle Bancorp Inc. raised its stake in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares during the period. Benjamin Edwards Inc. lifted its holdings in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares during the last quarter. Finally, Eastern Bank acquired a new position in Cognizant Technology Solutions in the third quarter valued at approximately $37,000. 92.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $75.32 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $79.02 and its 200 day moving average price is $76.19. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46. The firm has a market cap of $37.35 billion, a P/E ratio of 16.66, a PEG ratio of 2.24 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Cowen raised their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Mizuho increased their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, December 31st. Finally, Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $80.00 to $95.00 in a research note on Tuesday, December 17th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $81.19.

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.