Proficio Capital Partners LLC Takes $10.06 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Proficio Capital Partners LLC purchased a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 130,809 shares of the information technology service provider’s stock, valued at approximately $10,059,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CTSH. Graypoint LLC boosted its position in shares of Cognizant Technology Solutions by 2.9% during the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock worth $369,000 after purchasing an additional 134 shares in the last quarter. Sandy Cove Advisors LLC raised its stake in Cognizant Technology Solutions by 3.2% during the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after buying an additional 135 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Cognizant Technology Solutions by 3.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,441 shares of the information technology service provider’s stock worth $342,000 after acquiring an additional 166 shares in the last quarter. Cidel Asset Management Inc. grew its stake in 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 period. Finally, Ritholtz Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 2.1% in the fourth quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock worth $669,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $79.12 on Friday. The stock has a market capitalization of $39.13 billion, a PE ratio of 17.54, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The firm has a fifty day simple moving average of $82.38 and a 200 day simple moving average of $79.41. 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 (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, research analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CTSH shares. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Barclays lifted their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley lowered their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, UBS Group increased their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $83.39.

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.