Principal Financial Group Inc. Sells 7,909 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Principal Financial Group Inc. lessened its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 657,396 shares of the information technology service provider's stock after selling 7,909 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Cognizant Technology Solutions worth $50,554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CTSH. State Street Corp increased its position in shares of Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider's stock valued at $1,928,405,000 after acquiring an additional 867,176 shares during the period. Geode Capital Management LLC raised its position in Cognizant Technology Solutions by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider's stock valued at $1,022,728,000 after purchasing an additional 173,667 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cognizant Technology Solutions by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider's stock worth $250,428,000 after buying an additional 44,129 shares during the last quarter. Cibc World Market Inc. increased its stake in shares of Cognizant Technology Solutions by 34.0% during the fourth quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider's stock valued at $214,141,000 after buying an additional 705,946 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of Cognizant Technology Solutions by 29.7% during the third quarter. Bank of Montreal Can now owns 2,748,982 shares of the information technology service provider's stock valued at $211,369,000 after acquiring an additional 628,970 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 0.4 %

Shares of NASDAQ CTSH traded down $0.32 during trading on Monday, reaching $84.55. The company had a trading volume of 8,623,520 shares, compared to its average volume of 3,488,703. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The business's 50-day moving average is $81.18 and its 200 day moving average is $78.73. The stock has a market cap of $41.82 billion, a PE ratio of 18.75, a P/E/G ratio of 2.11 and a beta of 1.07.

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%. As a group, equities 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors 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 dividend yield of 1.47%. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent analyst reports. TD Cowen lifted their price target 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. Royal Bank of Canada lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. BMO Capital Markets boosted their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" 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 report on Monday, February 10th. Finally, Needham & Company LLC reiterated 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.