Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,441 shares of the information technology service provider’s stock after acquiring an additional 166 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Cognizant Technology Solutions were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graypoint LLC boosted its holdings 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 acquiring an additional 134 shares during the last quarter. Sandy Cove Advisors LLC boosted its holdings in 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. boosted its holdings 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 last quarter. Ritholtz Wealth Management raised its position in 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 valued at $669,000 after purchasing an additional 183 shares during the period. Finally, Allworth Financial LP raised its position 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 during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $78.34 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $82.32 and a two-hundred day moving average of $79.37. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The company has a market cap of $38.75 billion, a P/E ratio of 17.37, a PEG ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS 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, 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 disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. 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 1.58%. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Analyst Upgrades and Downgrades

Several research firms have commented on CTSH. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, February 6th. UBS Group raised their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley cut their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada raised their price objective on 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. 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 has a consensus rating of “Hold” and a consensus target price 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.