Simplicity Solutions LLC Raises Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Simplicity Solutions LLC grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,185 shares of the information technology service provider’s stock after purchasing an additional 259 shares during the quarter. Simplicity Solutions LLC’s holdings in Cognizant Technology Solutions were worth $467,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CTSH. Norges Bank purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $374,413,000. JPMorgan Chase & Co. raised its position in shares of Cognizant Technology Solutions by 84.6% in the 1st quarter. JPMorgan Chase & Co. now owns 13,148,963 shares of the information technology service provider’s stock worth $801,166,000 after buying an additional 6,027,057 shares during the period. Lazard Asset Management LLC raised its position in shares of Cognizant Technology Solutions by 53.4% in the 4th quarter. Lazard Asset Management LLC now owns 3,551,475 shares of the information technology service provider’s stock worth $203,107,000 after buying an additional 1,236,165 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth $53,176,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Cognizant Technology Solutions by 110.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after buying an additional 704,932 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.6 %

Shares of Cognizant Technology Solutions stock opened at $67.13 on Friday. The business has a 50-day moving average of $74.64 and a 200-day moving average of $72.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The company has a market capitalization of $33.42 billion, a PE ratio of 15.98, a P/E/G ratio of 1.55 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.

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

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.30 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.79%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.57%.

Insider Transactions at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction dated Tuesday, March 12th. The shares were 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 accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the topic of several research reports. Susquehanna reaffirmed a “neutral” rating and issued a $80.00 target price (down from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. Mizuho initiated coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price on the stock. BMO Capital Markets cut their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th. Citigroup increased their price target on Cognizant Technology Solutions from $76.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Societe Generale reiterated a “sell” rating and issued a $67.00 price target on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Two equities 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.65.

Cognizant Technology Solutions 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.