Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,030 shares of the information technology service provider’s stock after purchasing an additional 3,814 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cognizant Technology Solutions were worth $5,969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFG Advisory LLC raised its position in shares of Cognizant Technology Solutions by 45.1% in the fourth quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock valued at $5,070,000 after buying an additional 20,874 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Cognizant Technology Solutions by 36.0% during the third quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock worth $83,145,000 after purchasing an additional 324,638 shares during the period. PGGM Investments grew its stake in shares of Cognizant Technology Solutions by 53.8% in the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock valued at $5,041,000 after buying an additional 26,035 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Cognizant Technology Solutions by 110.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after buying an additional 704,932 shares during the last quarter. Finally, Summit Global Investments raised its position in shares of Cognizant Technology Solutions by 237.3% during the 3rd quarter. Summit Global Investments now owns 62,264 shares of the information technology service provider’s stock valued at $4,218,000 after buying an additional 43,806 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $67.44 on Friday. The stock has a market cap of $33.57 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. The company has a fifty day simple moving average of $74.45 and a 200-day simple moving average of $72.51. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12-month low of $58.09 and a 12-month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. Cognizant Technology Solutions’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio is 28.57%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CTSH shares. Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their price objective for the company from $70.00 to $85.00 in a report on Thursday, January 11th. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price target on the stock. Susquehanna reissued a “neutral” rating and issued a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets reduced their target price on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.94.

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.