Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,676 shares of the information technology service provider’s stock after buying an additional 13,465 shares during the period. Kingsview Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $10,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Czech National Bank lifted its stake in Cognizant Technology Solutions by 6.6% during the 3rd quarter. Czech National Bank now owns 100,970 shares of the information technology service provider’s stock valued at $7,793,000 after acquiring an additional 6,223 shares during the period. Atomi Financial Group Inc. acquired a new position in Cognizant Technology Solutions in the 3rd quarter worth about $264,000. Brookstone Capital Management raised its position in Cognizant Technology Solutions by 26.3% during the third quarter. Brookstone Capital Management now owns 4,576 shares of the information technology service provider’s stock worth $353,000 after acquiring an additional 952 shares during the period. Marcum Wealth LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter worth about $204,000. Finally, Wedmont Private Capital raised its stake in Cognizant Technology Solutions by 60.5% in the 3rd quarter. Wedmont Private Capital now owns 4,731 shares of the information technology service provider’s stock valued at $360,000 after purchasing an additional 1,783 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $86.20 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $42.74 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.21 and a beta of 1.07. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $87.61. The firm has a 50 day moving average price of $79.44 and a 200 day moving average price of $77.52.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results 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 return on equity of 17.08% and a net margin of 11.60%. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.44%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Insider Activity at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CTSH. BMO Capital Markets raised their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday. Morgan Stanley boosted their target price on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. UBS Group increased their price target on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.22.

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.