Avanza Fonder AB Invests $2.93 Million in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Avanza Fonder AB bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,137 shares of the information technology service provider's stock, valued at approximately $2,933,000.

Other hedge funds have also recently modified their holdings of the company. Graypoint LLC boosted its holdings in shares of Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock valued at $369,000 after acquiring an additional 134 shares during the period. Pinnacle Bancorp Inc. boosted its stake in Cognizant Technology Solutions by 47.4% during the 3rd 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 period. Benjamin Edwards Inc. grew its position in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock worth $36,000 after purchasing an additional 158 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Cognizant Technology Solutions by 2.1% in the fourth quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider's stock valued at $669,000 after buying an additional 183 shares during the last quarter. Finally, Addison Advisors LLC boosted its stake 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 buying an additional 189 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CTSH shares. TD Cowen boosted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. StockNews.com cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Barclays upgraded shares of Cognizant Technology Solutions from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus target price of $81.19.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH traded up $0.38 on Friday, hitting $77.81. The company's stock had a trading volume of 3,580,359 shares, compared to its average volume of 2,267,100. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a 50 day moving average of $78.93 and a 200-day moving average of $76.46. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.46. The company has a market capitalization of $38.58 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. Cognizant Technology Solutions's quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

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.