Czech National Bank Buys 6,535 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Czech National Bank boosted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,505 shares of the information technology service provider's stock after purchasing an additional 6,535 shares during the quarter. Czech National Bank's holdings in Cognizant Technology Solutions were worth $8,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Addison Advisors LLC raised its position 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 valued at $26,000 after buying an additional 189 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions during the third quarter valued at about $30,000. Pinnacle Bancorp Inc. lifted its stake in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock worth $35,000 after purchasing an additional 146 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock worth $36,000 after purchasing an additional 158 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $37,000. 92.44% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company's stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CTSH shares. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. StockNews.com lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Monday. TD Cowen increased their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a report on Thursday, October 31st. Mizuho boosted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Finally, Barclays raised Cognizant Technology Solutions from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $80.00 to $95.00 in a research note on Tuesday, December 17th. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $81.19.

Cognizant Technology Solutions Trading Up 0.8 %

Shares of CTSH traded up $0.61 during mid-day trading on Wednesday, hitting $77.78. 2,119,415 shares of the company's stock traded hands, compared to its average volume of 2,613,474. The business's 50-day moving average price is $79.09 and its 200-day moving average price is $76.37. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.46. The firm has a market capitalization of $38.56 billion, a P/E ratio of 17.21, a PEG ratio of 2.21 and a beta of 1.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. As a group, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.55%.

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.