Louisbourg Investments Inc. Purchases 11,010 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Louisbourg Investments Inc. increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,031 shares of the information technology service provider's stock after acquiring an additional 11,010 shares during the period. Cognizant Technology Solutions makes up 1.3% of Louisbourg Investments Inc.'s investment portfolio, making the stock its 26th largest holding. Louisbourg Investments Inc.'s holdings in Cognizant Technology Solutions were worth $5,385,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Cognizant Technology Solutions in the third quarter worth approximately $1,972,000. Retirement Systems of Alabama lifted its stake in shares of Cognizant Technology Solutions by 3.5% in 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 buying an additional 40,226 shares in the last quarter. CGN Advisors LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $1,294,000. Matthews International Capital Management LLC lifted its position 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 valued at $3,853,000 after purchasing an additional 17,134 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Cognizant Technology Solutions by 12.6% during the third quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider's stock valued at $7,828,000 after purchasing an additional 11,349 shares during the period. Institutional investors own 92.44% of the company's stock.

Analysts Set New Price Targets

CTSH has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Morgan Stanley increased their price objective on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. UBS Group increased their price objective on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price objective on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $83.67.

Cognizant Technology Solutions Price Performance

CTSH traded up $1.12 during trading on Friday, hitting $90.70. 4,369,973 shares of the company traded hands, compared to its average volume of 2,990,005. The company has a market cap of $44.97 billion, a PE ratio of 20.11, a P/E/G ratio of 2.32 and a beta of 1.07. The stock's 50-day simple moving average is $80.35 and its two-hundred day simple moving average is $78.11. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.23 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share 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%. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.37%. 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 26.61%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on 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 owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.

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.