Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,743 shares of the information technology service provider’s stock after acquiring an additional 199 shares during the quarter. Perigon Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $358,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CTSH. State Street Corp grew its position in shares of Cognizant Technology Solutions by 2.2% during the first quarter. State Street Corp now owns 22,415,954 shares of the information technology service provider’s stock worth $1,365,793,000 after buying an additional 473,809 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cognizant Technology Solutions by 32.8% during the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock worth $1,196,547,000 after buying an additional 4,365,493 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Cognizant Technology Solutions by 1.0% during the first quarter. Geode Capital Management LLC now owns 9,710,353 shares of the information technology service provider’s stock worth $590,394,000 after buying an additional 93,518 shares in the last quarter. Boston Partners grew its position in shares of Cognizant Technology Solutions by 3.0% during the third quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after buying an additional 231,782 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Cognizant Technology Solutions by 6.0% during the first quarter. Macquarie Group Ltd. now owns 7,461,555 shares of the information technology service provider’s stock worth $454,633,000 after buying an additional 424,988 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on CTSH shares. Barclays boosted their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 23rd. Royal Bank of Canada boosted their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. Susquehanna restated a “neutral” rating and set a $80.00 target price (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. Societe Generale restated a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Finally, BMO Capital Markets decreased their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.65.

Cognizant Technology Solutions Trading Down 0.7 %

NASDAQ:CTSH opened at $67.93 on Wednesday. The firm has a market cap of $33.82 billion, a P/E ratio of 16.17, a PEG ratio of 1.58 and a beta of 1.06. 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 stock’s 50 day simple moving average is $75.07 and its 200-day simple moving average is $72.58. Cognizant Technology Solutions Co. has a 12-month low of $58.09 and a 12-month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.6 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were issued a $0.30 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s payout ratio is presently 28.57%.

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.