Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Position Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 67.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,614 shares of the information technology service provider’s stock after buying an additional 3,877 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cognizant Technology Solutions were worth $726,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. bought a new position in Cognizant Technology Solutions during the 1st quarter valued at $256,000. Canada Pension Plan Investment Board lifted its holdings in Cognizant Technology Solutions by 84.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock valued at $24,140,000 after acquiring an additional 123,220 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Cognizant Technology Solutions by 9.4% during the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock valued at $1,594,000 after purchasing an additional 1,523 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Cognizant Technology Solutions by 18.7% in the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock worth $312,000 after purchasing an additional 550 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its holdings in shares of Cognizant Technology Solutions by 75.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 50,692 shares of the information technology service provider’s stock worth $4,545,000 after purchasing an additional 21,789 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $68.42 on Tuesday. The firm has a market cap of $34.06 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 1.58 and a beta of 1.06. Cognizant Technology Solutions Co. has a 1 year low of $58.09 and a 1 year high of $80.09. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $75.29 and a 200 day simple moving average of $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the company earned $1.01 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a $0.30 dividend. The ex-dividend date was Friday, February 16th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 1.75%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTSH. Societe Generale restated a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Jefferies Financial Group upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $85.00 in a report on Thursday, January 11th. Wolfe Research raised Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Barclays lifted their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 23rd. Finally, Guggenheim began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price objective for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.65.

Insiders Place Their Bets

In related news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

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.