Allspring Global Investments Holdings LLC Has $21.05 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 11.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 275,450 shares of the information technology service provider's stock after acquiring an additional 27,315 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Cognizant Technology Solutions worth $21,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTSH. Exchange Traded Concepts LLC bought a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $161,000. Creative Planning boosted its stake in Cognizant Technology Solutions by 8.6% in the 3rd quarter. Creative Planning now owns 44,423 shares of the information technology service provider's stock valued at $3,429,000 after purchasing an additional 3,518 shares during the period. Bleakley Financial Group LLC boosted its stake in Cognizant Technology Solutions by 3.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 5,972 shares of the information technology service provider's stock valued at $461,000 after purchasing an additional 220 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Cognizant Technology Solutions by 0.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,502 shares of the information technology service provider's stock valued at $4,284,000 after purchasing an additional 298 shares during the period. Finally, V Square Quantitative Management LLC boosted its stake in Cognizant Technology Solutions by 1.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider's stock valued at $862,000 after purchasing an additional 194 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of NASDAQ CTSH traded down $0.34 during trading on Wednesday, reaching $88.43. The company had a trading volume of 2,756,812 shares, compared to its average volume of 3,257,113. The company's fifty day moving average price is $80.72 and its 200-day moving average price is $78.35. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The stock has a market cap of $43.85 billion, a P/E ratio of 19.61, a PEG ratio of 2.19 and a beta of 1.07. 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 (NASDAQ:CTSH - Get Free Report) last released its quarterly 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 return on equity of 16.78% and a net margin of 11.35%. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be given a dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.40%. Cognizant Technology Solutions's dividend payout ratio is presently 26.61%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CTSH. StockNews.com upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price objective on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. BMO Capital Markets lifted their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. TD Cowen boosted 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. Finally, Barclays boosted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $83.67.

Cognizant Technology Solutions Company 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.