Van ECK Associates Corp Acquires 3,349 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Van ECK Associates Corp boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,029 shares of the information technology service provider's stock after purchasing an additional 3,349 shares during the period. Van ECK Associates Corp's holdings in Cognizant Technology Solutions were worth $13,459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CTSH. Assenagon Asset Management S.A. boosted its position in Cognizant Technology Solutions by 276.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider's stock valued at $122,603,000 after acquiring an additional 1,167,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Cognizant Technology Solutions by 146.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider's stock valued at $126,940,000 after acquiring an additional 978,579 shares in the last quarter. ING Groep NV boosted its position in Cognizant Technology Solutions by 61.5% during the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider's stock valued at $191,280,000 after acquiring an additional 943,372 shares in the last quarter. State Street Corp boosted its position in shares of Cognizant Technology Solutions by 3.6% in the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider's stock worth $1,928,405,000 after purchasing an additional 867,176 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $61,744,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTSH shares. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. UBS Group boosted their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. 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 research report on Thursday, October 31st. Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Finally, StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $83.67.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.34 during mid-day trading on Wednesday, reaching $88.43. 2,756,812 shares of the company traded hands, compared to its average volume of 3,257,113. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $43.85 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.19 and a beta of 1.07. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The company's fifty day moving average price is $80.72 and its 200-day moving average price is $78.35.

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

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.40%. This is a positive change 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 26.61%.

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.