Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,873 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,806 shares of the information technology service provider’s stock after acquiring an additional 1,873 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cognizant Technology Solutions were worth $3,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Cognizant Technology Solutions by 32.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock worth $1,196,547,000 after purchasing an additional 4,365,493 shares in the last quarter. Boston Partners lifted its holdings in Cognizant Technology Solutions by 3.0% during the third quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after acquiring an additional 231,782 shares during the period. Northern Trust Corp lifted its holdings in Cognizant Technology Solutions by 5.0% during the third quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after acquiring an additional 294,415 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Cognizant Technology Solutions by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,042,016 shares of the information technology service provider’s stock worth $206,066,000 after purchasing an additional 28,455 shares during the last quarter. Finally, Stifel Financial Corp increased its position in shares of Cognizant Technology Solutions by 3.6% during the 3rd quarter. Stifel Financial Corp now owns 1,680,009 shares of the information technology service provider’s stock valued at $113,804,000 after purchasing an additional 58,422 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 1.1 %

CTSH stock opened at $68.20 on Tuesday. Cognizant Technology Solutions Co. has a 1-year low of $58.09 and a 1-year high of $80.09. The stock has a market cap of $33.95 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $74.28 and its 200 day moving average is $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the company posted $1.01 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.59 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. Shareholders of record on Tuesday, February 20th were given a dividend of $0.30 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.57%.

Insiders Place Their Bets

In related news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction 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 transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTSH. Wolfe Research raised shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Societe Generale restated a “sell” rating and set a $67.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Barclays upped their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 23rd. Citigroup decreased their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Monday. Finally, Jefferies Financial Group raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $76.44.

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.