Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Ossiam

by · The Markets Daily

Ossiam lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,164 shares of the information technology service provider’s stock after selling 1,915 shares during the quarter. Ossiam’s holdings in Cognizant Technology Solutions were worth $1,704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Trust Co. of Vermont raised its position in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after buying an additional 292 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $36,000. Spire Wealth Management boosted its holdings in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $37,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $69.44 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The business’s fifty day moving average price is $78.81 and its two-hundred day moving average price is $78.86. The stock has a market cap of $34.35 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its quarterly earnings data 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%. On average, analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors 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. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.79%. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Cognizant Technology Solutions announced that its board has approved a stock buyback program on Tuesday, March 25th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology service provider to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of 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 decreased their price target 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Finally, Morgan Stanley lowered their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.44.

View Our Latest Analysis on Cognizant Technology Solutions

About Cognizant Technology Solutions

(Free Report)

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.

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