Keybank National Association OH Buys 3,837 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Keybank National Association OH grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,465 shares of the information technology service provider's stock after acquiring an additional 3,837 shares during the period. Keybank National Association OH's holdings in Cognizant Technology Solutions were worth $1,651,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Retirement Systems of Alabama grew its holdings in Cognizant Technology Solutions by 3.5% during the third 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 bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $1,294,000. ICICI Prudential Asset Management Co Ltd grew its holdings in Cognizant Technology Solutions by 50.7% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock worth $33,041,000 after purchasing an additional 144,535 shares during the period. Todd Asset Management LLC grew its holdings in Cognizant Technology Solutions by 24.4% during the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock worth $33,568,000 after purchasing an additional 85,539 shares during the period. Finally, Matthews International Capital Management LLC grew its holdings in Cognizant Technology Solutions by 52.0% during the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock worth $3,853,000 after purchasing an additional 17,134 shares during the period. Institutional investors own 92.44% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. StockNews.com upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Barclays raised their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, BMO Capital Markets raised their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $83.67.

Cognizant Technology Solutions Price Performance

CTSH traded up $0.77 during trading on Monday, hitting $84.00. 9,938,424 shares of the stock traded hands, compared to its average volume of 3,762,991. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The company has a market cap of $41.55 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.11 and a beta of 1.12. 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 50 day moving average price of $82.12 and a 200 day moving average price of $79.34.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's payout ratio is presently 27.49%.

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.