Global Retirement Partners LLC Has $97,000 Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Global Retirement Partners LLC lowered its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,261 shares of the information technology service provider’s stock after selling 144 shares during the quarter. Global Retirement Partners LLC’s holdings in Cognizant Technology Solutions were worth $97,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CTSH. Graypoint LLC grew its position in Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after purchasing an additional 134 shares in the last quarter. Sandy Cove Advisors LLC increased its position in shares of Cognizant Technology Solutions by 3.2% in the fourth 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 during the last quarter. Cidel Asset Management Inc. increased its position in shares of Cognizant Technology Solutions by 3.5% in the fourth quarter. Cidel Asset Management Inc. now owns 5,338 shares of the information technology service provider’s stock valued at $410,000 after acquiring an additional 182 shares during the last quarter. Ritholtz Wealth Management boosted its position in Cognizant Technology Solutions by 2.1% during the fourth quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock valued at $669,000 after purchasing an additional 183 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Cognizant Technology Solutions by 7.7% in the fourth quarter. Allworth Financial LP now owns 2,617 shares of the information technology service provider’s stock valued at $207,000 after purchasing an additional 188 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTSH. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. UBS Group raised their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada upped their price objective on 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 given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $83.67.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $83.99 on Friday. The firm’s 50 day simple moving average is $81.47 and its 200 day simple moving average is $78.87. The firm has a market capitalization of $41.54 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 2.11 and a beta of 1.07. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

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.