Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,111 shares of the information technology service provider’s stock after selling 1,147 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Cognizant Technology Solutions were worth $1,085,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its stake in Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after purchasing an additional 867,176 shares in the last quarter. Geode Capital Management LLC raised its stake in Cognizant Technology Solutions by 1.3% during the third quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after acquiring an additional 173,667 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cognizant Technology Solutions by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,348,102 shares of the information technology service provider’s stock worth $257,469,000 after purchasing an additional 103,371 shares during the period. ING Groep NV boosted its position in Cognizant Technology Solutions by 17.9% during the 4th quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider’s stock valued at $224,694,000 after purchasing an additional 443,536 shares during the period. Finally, Cibc World Market Inc. grew its stake in Cognizant Technology Solutions by 34.0% during the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock worth $214,141,000 after buying an additional 705,946 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 1.0 %

Cognizant Technology Solutions stock opened at $76.42 on Friday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The firm’s 50 day moving average price is $82.66 and its two-hundred day moving average price is $79.45. The firm has a market cap of $37.80 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. 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 1.62%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on shares of 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. Barclays boosted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. UBS Group cut their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Finally, Morgan Stanley decreased their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.71.

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.