Citizens Financial Group Inc. RI Purchases 336 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Citizens Financial Group Inc. RI grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,011 shares of the information technology service provider’s stock after purchasing an additional 336 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Cognizant Technology Solutions were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CTSH. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth approximately $30,000. Trust Co. of Vermont boosted its holdings in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $36,000. Finally, Spire Wealth Management raised its position in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CTSH shares. Barclays raised their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. BMO Capital Markets lifted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Finally, Morgan Stanley cut their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday. Sixteen research 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 presently has a consensus rating of “Hold” and an average target price of $83.39.

Cognizant Technology Solutions Trading Up 1.0 %

CTSH opened at $79.12 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The stock has a market cap of $39.13 billion, a PE ratio of 17.54, a PEG ratio of 2.11 and a beta of 1.12. The business has a 50 day moving average of $82.38 and a 200-day moving average of $79.39.

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

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.57%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 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.