Charles Schwab Investment Management Inc. grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,348,102 shares of the information technology service provider's stock after acquiring an additional 103,371 shares during the period. Charles Schwab Investment Management Inc. owned 0.68% of Cognizant Technology Solutions worth $257,469,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of CTSH. Addison Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after acquiring an additional 189 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $30,000. Trust Co. of Vermont lifted its stake in shares of Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after buying an additional 292 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $36,000. Institutional investors own 92.44% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. BMO Capital Markets increased their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, February 6th. UBS Group lifted 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. Finally, Royal Bank of Canada increased their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $83.67.
View Our Latest Analysis on CTSH
Cognizant Technology Solutions Trading Up 0.7 %
CTSH stock opened at $84.29 on Thursday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market cap of $41.69 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The business's 50 day moving average is $81.82 and its 200-day moving average is $79.16.
Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (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%. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.
Cognizant Technology Solutions Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.47%. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is currently 27.49%.
Cognizant Technology Solutions Company Profile
(
Free Report)
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.
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