Truist Financial Corp Boosts Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Truist Financial Corp boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,272 shares of the information technology service provider’s stock after purchasing an additional 203 shares during the quarter. Truist Financial Corp’s holdings in Cognizant Technology Solutions were worth $4,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in Cognizant Technology Solutions by 3.6% in the 3rd 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 position in shares of Cognizant Technology Solutions by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock valued at $1,022,728,000 after buying an additional 173,667 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cognizant Technology Solutions by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock valued at $250,428,000 after buying an additional 44,129 shares in the last quarter. Cibc World Market Inc. raised its position in shares of 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 valued at $214,141,000 after buying an additional 705,946 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Cognizant Technology Solutions by 29.7% during the 3rd quarter. Bank of Montreal Can now owns 2,748,982 shares of the information technology service provider’s stock valued at $211,369,000 after buying an additional 628,970 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $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 is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Finally, UBS Group increased their target price 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 given a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $83.67.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of CTSH opened at $84.55 on Tuesday. The firm’s 50-day moving average price is $81.18 and its 200-day moving average price is $78.73. The firm has a market capitalization of $41.82 billion, a price-to-earnings ratio of 18.75, a PEG 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 announced 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 net margin of 11.35% and a return on equity of 16.78%. Sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be given a dividend of $0.31 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 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.