Czech National Bank Grows Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Czech National Bank increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,505 shares of the information technology service provider’s stock after purchasing an additional 6,535 shares during the period. Czech National Bank’s holdings in Cognizant Technology Solutions were worth $8,267,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Graypoint LLC grew its stake in shares of Cognizant Technology Solutions by 2.9% in the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock worth $369,000 after buying an additional 134 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Cognizant Technology Solutions by 32.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CTSH shares. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.19.

Insider Activity

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 transaction of $400,550.00. Following the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

CTSH opened at $77.17 on Wednesday. The company’s 50 day moving average is $79.09 and its 200 day moving average is $76.37. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a market cap of $38.26 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.21 and a beta of 1.06. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

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.