Victory Capital Management Inc. Cuts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Victory Capital Management Inc. lessened its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 12.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 833,910 shares of the information technology service provider's stock after selling 119,865 shares during the period. Victory Capital Management Inc. owned about 0.17% of Cognizant Technology Solutions worth $64,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTSH. State Street Corp lifted its position in shares of Cognizant Technology Solutions by 3.6% during the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider's stock worth $1,928,405,000 after buying an additional 867,176 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $1,022,728,000 after buying an additional 173,667 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cognizant Technology Solutions by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,348,102 shares of the information technology service provider's stock worth $257,469,000 after buying an additional 103,371 shares during the last quarter. ING Groep NV lifted its position in shares of Cognizant Technology Solutions by 17.9% during the 4th quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider's stock worth $224,694,000 after buying an additional 443,536 shares during the last quarter. Finally, Cibc World Market Inc. lifted its position in shares of Cognizant Technology Solutions by 34.0% during the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider's stock worth $214,141,000 after buying an additional 705,946 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley upped their price target 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. Barclays boosted their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. BMO Capital Markets boosted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada boosted 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 note on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $83.67.

Cognizant Technology Solutions Trading Up 0.9 %

NASDAQ:CTSH traded up $0.77 on Monday, reaching $84.00. The stock had a trading volume of 9,938,424 shares, compared to its average volume of 3,762,991. The company has a market cap of $41.55 billion, a price-to-earnings ratio of 18.63, a P/E/G 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 firm's fifty day moving average is $82.12 and its two-hundred day moving average is $79.34. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) 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%. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is presently 27.49%.

Cognizant Technology Solutions Company 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.