Bank of New York Mellon Corp Has $810.53 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bank of New York Mellon Corp decreased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,540,011 shares of the information technology service provider’s stock after selling 421,472 shares during the period. Bank of New York Mellon Corp’s holdings in Cognizant Technology Solutions were worth $810,527,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth about $1,972,000. Retirement Systems of Alabama raised its stake in shares of Cognizant Technology Solutions by 3.5% in the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after purchasing an additional 40,226 shares during the last quarter. CGN Advisors LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $1,294,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Cognizant Technology Solutions by 50.7% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock valued at $33,041,000 after purchasing an additional 144,535 shares in the last quarter. Finally, Matthews International Capital Management LLC boosted its position in shares of Cognizant Technology Solutions by 52.0% during the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after buying an additional 17,134 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CTSH. BMO Capital Markets increased their price target 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. Morgan Stanley increased their target price on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Robert W. Baird raised their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Mizuho lifted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.67.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $84.84 on Wednesday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The stock’s fifty day moving average price is $81.26 and its two-hundred day moving average price is $78.80. The firm has a market cap of $41.96 billion, a PE ratio of 18.81, a PEG ratio of 2.11 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (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, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.31 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Cognizant Technology Solutions Company 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.