Motley Fool Asset Management LLC Acquires 617 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Motley Fool Asset Management LLC lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,031 shares of the information technology service provider’s stock after buying an additional 617 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $1,135,000 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 company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $26,000. NBC Securities Inc. acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $27,000. Valley National Advisers Inc. boosted its position in shares of Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 178 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Cognizant Technology Solutions by 26.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock worth $52,000 after buying an additional 162 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $52,000. 92.44% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH traded up $0.18 during mid-day trading on Friday, hitting $66.94. The company’s stock had a trading volume of 2,818,903 shares, compared to its average volume of 4,280,442. The stock’s 50-day moving average is $73.52 and its two-hundred day moving average is $72.50. The firm has a market capitalization of $33.33 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. Cognizant Technology Solutions Co. has a one year low of $58.47 and a one year high of $80.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the prior year, the company earned $1.01 EPS. Cognizant Technology Solutions’s revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 1.79%. Cognizant Technology Solutions’s dividend payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of analyst reports. Citigroup decreased their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday. BMO Capital Markets reduced their price objective on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, February 7th. Jefferies Financial Group raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their target price for the company from $70.00 to $85.00 in a research note on Thursday, January 11th. Mizuho assumed coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price for the company. Finally, Susquehanna reissued a “neutral” rating and issued a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $76.13.

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.