Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Simmons Bank

Simmons Bank lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,795 shares of the information technology service provider’s stock after selling 126 shares during the period. Simmons Bank’s holdings in Cognizant Technology Solutions were worth $1,138,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its position in shares of Cognizant Technology Solutions by 3.6% during the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after acquiring an additional 867,176 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cognizant Technology Solutions by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after acquiring an additional 173,667 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cognizant Technology Solutions by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock worth $250,428,000 after acquiring an additional 44,129 shares in the last quarter. ING Groep NV raised its position in shares of Cognizant Technology Solutions by 17.9% during the 4th quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider’s stock worth $224,694,000 after acquiring an additional 443,536 shares in the last quarter. Finally, Cibc World Market Inc. raised its position in shares of Cognizant Technology Solutions by 34.0% during the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock worth $214,141,000 after acquiring an additional 705,946 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CTSH shares. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho lifted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Finally, UBS Group lifted their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and a consensus price target of $83.67.

Insider Buying and Selling

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Cognizant Technology Solutions Stock Down 0.8 %

Cognizant Technology Solutions stock opened at $84.15 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The company has a market cap of $41.62 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07. The stock’s 50 day moving average price is $81.38 and its 200 day moving average price is $78.84.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.47%. Cognizant Technology Solutions’s payout ratio is 27.49%.

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.