Bartlett & Co. LLC cut its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 59.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 999 shares of the information technology service provider’s stock after selling 1,466 shares during the period. Bartlett & Co. LLC’s holdings in Cognizant Technology Solutions were worth $57,000 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 CTSH. D.A. Davidson & CO. bought a new stake in Cognizant Technology Solutions during the first quarter worth $256,000. Canada Pension Plan Investment Board increased its holdings in shares of Cognizant Technology Solutions by 84.4% during the first quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock worth $24,140,000 after buying an additional 123,220 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Cognizant Technology Solutions by 9.4% during the first quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock worth $1,594,000 after buying an additional 1,523 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the first quarter worth $239,000. Finally, Brighton Jones LLC increased its holdings in shares of Cognizant Technology Solutions by 18.7% during the first quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock worth $312,000 after buying an additional 550 shares in the last quarter. 90.12% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on CTSH shares. UBS Group upped their price target on shares of Cognizant Technology Solutions from $62.00 to $68.00 in a report on Sunday, January 15th. Robert W. Baird downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $66.00 to $68.00 in a report on Friday, February 3rd. JPMorgan Chase & Co. downgraded Cognizant Technology Solutions from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $61.00 to $62.00 in a report on Thursday, December 15th. Susquehanna decreased their price objective on Cognizant Technology Solutions from $93.00 to $91.00 and set a “positive” rating for the company in a report on Friday, February 3rd. Finally, Barclays increased their price objective on Cognizant Technology Solutions from $45.00 to $53.00 and gave the company an “underweight” rating in a report on Monday, February 6th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.90.
Cognizant Technology Solutions Stock Performance
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last issued its earnings results on Thursday, February 2nd. The information technology service provider reported $1.01 EPS for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.78 billion. Cognizant Technology Solutions had a return on equity of 18.92% and a net margin of 11.79%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.10 EPS. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.46 EPS for the current fiscal year.
Cognizant Technology Solutions Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Friday, February 17th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, February 16th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 2.01%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.24%.
Cognizant Technology Solutions Company Profile
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.
- Get a free copy of the StockNews.com research report on Cognizant Technology Solutions (CTSH)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating).
Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.