Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,511 shares of the information technology service provider's stock after purchasing an additional 5,563 shares during the period. CIBC Asset Management Inc's holdings in Cognizant Technology Solutions were worth $12,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $1,972,000. Retirement Systems of Alabama grew its stake in Cognizant Technology Solutions by 3.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock valued at $91,678,000 after acquiring an additional 40,226 shares during the period. CGN Advisors LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at $1,294,000. Matthews International Capital Management LLC grew its stake in Cognizant Technology Solutions by 52.0% in the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock valued at $3,853,000 after acquiring an additional 17,134 shares during the period. Finally, Daiwa Securities Group Inc. grew its position 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 valued at $7,828,000 after purchasing an additional 11,349 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CTSH shares. Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. TD Cowen lifted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets lifted their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of "Hold" and a consensus price target of $83.67.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the 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 sale, the chief accounting officer now owns 39,022 shares of the company's stock, valued at approximately $3,126,052.42. This 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 can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Trading Down 3.1 %

Shares of Cognizant Technology Solutions stock traded down $2.72 during trading hours on Friday, hitting $84.82. The company's stock had a trading volume of 6,336,536 shares, compared to its average volume of 3,445,917. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The firm has a fifty day moving average of $81.11 and a 200-day moving average of $78.61. The stock has a market cap of $41.95 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 2.11 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted 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%. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.46%. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is 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.