Chevy Chase Trust Holdings LLC Trims Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Chevy Chase Trust Holdings LLC decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,195 shares of the information technology service provider's stock after selling 5,556 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Cognizant Technology Solutions worth $20,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Cognizant Technology Solutions during the third quarter valued at approximately $1,972,000. Retirement Systems of Alabama raised its holdings in shares of Cognizant Technology Solutions by 3.5% in the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock worth $91,678,000 after buying an additional 40,226 shares during the last quarter. CGN Advisors LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $1,294,000. Matthews International Capital Management LLC raised its holdings in shares of Cognizant Technology Solutions by 52.0% in the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock worth $3,853,000 after buying an additional 17,134 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Cognizant Technology Solutions by 12.6% in the third quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider's stock worth $7,828,000 after buying an additional 11,349 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

CTSH stock traded down $0.34 during midday trading on Wednesday, hitting $88.43. 2,756,812 shares of the stock traded hands, compared to its average volume of 3,257,113. The firm 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 debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The stock's fifty day simple moving average is $80.72 and its 200-day simple moving average is $78.35. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82.

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

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be given a $0.31 dividend. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date 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 (DPR) is 26.61%.

Analysts Set New Price Targets

A number of research firms have issued reports on CTSH. TD Cowen raised their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Royal Bank of Canada raised 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. UBS Group raised their price target on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Robert W. Baird raised their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus price target of $83.67.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value 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 trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company's stock.

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.