Flputnam Investment Management Co. Grows Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Flputnam Investment Management Co. lifted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 61.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,498 shares of the information technology service provider's stock after buying an additional 5,526 shares during the period. Flputnam Investment Management Co.'s holdings in Cognizant Technology Solutions were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in shares of Cognizant Technology Solutions by 25.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 955 shares of the information technology service provider's stock worth $73,000 after buying an additional 194 shares during the last quarter. Linscomb Wealth Inc. boosted its stake in shares of Cognizant Technology Solutions by 6.2% in the 4th quarter. Linscomb Wealth Inc. now owns 28,391 shares of the information technology service provider's stock worth $2,183,000 after buying an additional 1,667 shares during the last quarter. Versor Investments LP boosted its stake in shares of Cognizant Technology Solutions by 124.1% in the 4th quarter. Versor Investments LP now owns 9,699 shares of the information technology service provider's stock worth $746,000 after buying an additional 5,371 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth $10,059,000. Finally, Gulf International Bank UK Ltd raised its holdings in Cognizant Technology Solutions by 4.3% in the 4th quarter. Gulf International Bank UK Ltd now owns 41,846 shares of the information technology service provider's stock worth $3,217,000 after purchasing an additional 1,744 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group raised their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley raised their target price on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Barclays raised their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $83.67.

Insider Buying and Selling

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Trading Down 0.8 %

Shares of CTSH stock opened at $83.35 on Monday. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. 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 stock's 50-day moving average price is $81.55 and its 200-day moving average price is $79.01. The stock has a market capitalization of $41.23 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results 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 research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.49%. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 27.49%.

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.

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