WASHINGTON TRUST Co Cuts Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

WASHINGTON TRUST Co reduced its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 62,765 shares of the information technology service provider's stock after selling 4,087 shares during the period. WASHINGTON TRUST Co's holdings in Cognizant Technology Solutions were worth $4,827,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Graypoint LLC grew its stake in shares of Cognizant Technology Solutions by 2.9% during 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 boosted its holdings in shares of 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 valued at $333,000 after acquiring an additional 135 shares in the last quarter. Cidel Asset Management Inc. grew its position in Cognizant Technology Solutions by 3.5% during the 4th quarter. Cidel Asset Management Inc. now owns 5,338 shares of the information technology service provider's stock worth $410,000 after acquiring an additional 182 shares during the last quarter. Ritholtz Wealth Management increased its holdings in 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 worth $669,000 after purchasing an additional 183 shares in the last quarter. Finally, Addison Advisors LLC raised its position in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock valued at $26,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by insiders.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of NASDAQ:CTSH traded down $0.34 during mid-day trading on Wednesday, hitting $88.43. The company had a trading volume of 2,759,357 shares, compared to its average volume of 3,257,283. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The firm has a fifty day moving average price of $80.72 and a 200 day moving average price of $78.35. The company has a market capitalization of $43.85 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly 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, research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be issued a $0.31 dividend. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 26.61%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several recent research reports. UBS Group lifted their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Mizuho lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. TD Cowen increased their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a report on Thursday, October 31st. BMO Capital Markets lifted their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, February 6th. Finally, Morgan Stanley increased their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $83.67.

About Cognizant Technology Solutions

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.