Kingsview Wealth Management LLC Raises Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kingsview Wealth Management LLC grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,676 shares of the information technology service provider’s stock after acquiring an additional 13,465 shares during the period. Kingsview Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $10,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Addison Advisors LLC boosted its stake in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the period. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $30,000. Trust Co. of Vermont lifted its stake in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares during the last quarter. Finally, Spire Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other 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 transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CTSH. Mizuho lifted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday. Morgan Stanley increased their price objective 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. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday. Finally, UBS Group increased their price target on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.22.

Cognizant Technology Solutions Trading Down 1.0 %

Shares of CTSH opened at $86.20 on Friday. The firm has a market capitalization of $42.74 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $87.61. The company has a 50-day moving average of $79.44 and a 200 day moving average of $77.52.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. On average, research analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.44%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

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.