Fulton Bank N.A. Boosts Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Fulton Bank N.A. grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,132 shares of the information technology service provider’s stock after buying an additional 310 shares during the period. Fulton Bank N.A.’s holdings in Cognizant Technology Solutions were worth $866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dark Forest Capital Management LP purchased a new position in shares of Cognizant Technology Solutions in the second quarter worth $26,000. Neo Ivy Capital Management raised its holdings in shares of Cognizant Technology Solutions by 75.6% during the third quarter. Neo Ivy Capital Management now owns 504 shares of the information technology service provider’s stock worth $29,000 after purchasing an additional 217 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Cognizant Technology Solutions by 492.9% during the third quarter. Hexagon Capital Partners LLC now owns 587 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 488 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Cognizant Technology Solutions by 55.2% during the third quarter. Zions Bancorporation N.A. now owns 731 shares of the information technology service provider’s stock worth $42,000 after purchasing an additional 260 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Cognizant Technology Solutions by 263.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 781 shares of the information technology service provider’s stock worth $45,000 after purchasing an additional 566 shares during the last quarter. Hedge funds and other institutional investors own 90.12% of the company’s stock.

Cognizant Technology Solutions Stock Down 1.0 %

Shares of NASDAQ CTSH opened at $57.79 on Friday. The firm has a market cap of $29.43 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. Cognizant Technology Solutions Co. has a 52-week low of $51.33 and a 52-week high of $93.47. The company’s 50-day simple moving average is $63.77 and its 200-day simple moving average is $60.92. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information technology service provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.78 billion. Cognizant Technology Solutions had a net margin of 11.79% and a return on equity of 18.92%. Cognizant Technology Solutions’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share. Equities analysts predict that Cognizant Technology Solutions Co. will post 4.46 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 17th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 2.01%. Cognizant Technology Solutions’s payout ratio is presently 26.24%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Bank of America cut shares of Cognizant Technology Solutions from a “neutral” rating to an “underperform” rating and set a $57.00 target price for the company. in a report on Monday, January 9th. JPMorgan Chase & Co. cut shares of Cognizant Technology Solutions from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $61.00 to $62.00 in a report on Thursday, December 15th. Morgan Stanley reduced their target price on shares of Cognizant Technology Solutions from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, February 3rd. Wolfe Research lowered shares of Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $49.00 price target on the stock. in a research report on Thursday, January 5th. Finally, Robert W. Baird lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and raised their price target for the company from $66.00 to $68.00 in a research report on Friday, February 3rd. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.90.

About Cognizant Technology Solutions

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Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.