Cognizant Technology Solutions (NASDAQ:CTSH) Reaches New 12-Month High - Here's What Happened

Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $91.25 and last traded at $88.70, with a volume of 1754 shares changing hands. The stock had previously closed at $90.70.

Wall Street Analyst Weigh In

CTSH has been the subject of several analyst reports. StockNews.com upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. TD Cowen upped their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Barclays upped their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Royal Bank of Canada upped 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, Robert W. Baird upped their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $83.67.

Cognizant Technology Solutions Price Performance

The stock has a market cap of $41.82 billion, a PE ratio of 18.75, 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 current ratio of 2.09 and a quick ratio of 2.09. The business has a fifty day moving average of $81.18 and a 200 day moving average of $78.73.

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

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, February 18th. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 27.49%.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. 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 currently owned by company insiders.

Institutional Trading of Cognizant Technology Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $1,972,000. Retirement Systems of Alabama raised its position in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock worth $91,678,000 after purchasing 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 approximately $1,294,000. ICICI Prudential Asset Management Co Ltd increased its position in Cognizant Technology Solutions by 50.7% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock valued at $33,041,000 after acquiring an additional 144,535 shares during the period. Finally, Matthews International Capital Management LLC increased its position 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. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.