Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Matthews International Capital Management LLC

Matthews International Capital Management LLC lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 52.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 50,108 shares of the information technology service provider’s stock after buying an additional 17,134 shares during the period. Cognizant Technology Solutions accounts for 0.8% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding. Matthews International Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $3,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Addison Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions in the third quarter valued at $30,000. Trust Co. of Vermont boosted its stake in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares in the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of 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 purchasing an additional 146 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth about $37,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $81.12 on Tuesday. 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 stock has a market cap of $40.22 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.46. The business has a fifty day moving average of $78.76 and a 200-day moving average of $76.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. As a group, 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CTSH shares. Robert W. Baird upped their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Finally, Mizuho raised their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Fifteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.