ING Groep NV Has $224.69 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

ING Groep NV boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,921,900 shares of the information technology service provider's stock after buying an additional 443,536 shares during the quarter. Cognizant Technology Solutions accounts for approximately 1.5% of ING Groep NV's holdings, making the stock its 12th biggest holding. ING Groep NV owned about 0.59% of Cognizant Technology Solutions worth $224,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graypoint LLC increased its stake in shares of Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock worth $369,000 after buying an additional 134 shares during the last quarter. Sandy Cove Advisors LLC grew its holdings in Cognizant Technology Solutions by 3.2% during the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider's stock worth $333,000 after acquiring an additional 135 shares in the last quarter. Cidel Asset Management Inc. increased its position in shares of Cognizant Technology Solutions by 3.5% in the 4th quarter. Cidel Asset Management Inc. now owns 5,338 shares of the information technology service provider's stock worth $410,000 after purchasing an additional 182 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Cognizant Technology Solutions by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider's stock valued at $669,000 after purchasing an additional 183 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Cognizant Technology Solutions by 7.7% during the fourth quarter. Allworth Financial LP now owns 2,617 shares of the information technology service provider's stock worth $207,000 after purchasing an additional 188 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was 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 owns 39,022 shares of the company's stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company's stock.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock traded down $2.72 during mid-day trading on Friday, hitting $84.82. 6,336,536 shares of the company's stock traded hands, compared to its average volume of 3,337,665. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The firm has a 50 day moving average price of $81.01 and a 200 day moving average price of $78.48. The company has a market cap of $42.05 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, equities analysts forecast 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 issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.46%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 27.49%.

Analyst Upgrades and Downgrades

CTSH has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Mizuho boosted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Robert W. Baird raised their price objective 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. UBS Group lifted their price objective on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Barclays increased their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $83.67.

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.