Xponance Inc. Acquires 1,010 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Xponance Inc. raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,261 shares of the information technology service provider’s stock after purchasing an additional 1,010 shares during the period. Xponance Inc.’s holdings in Cognizant Technology Solutions were worth $4,929,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at $26,000. NBC Securities Inc. purchased a new position in Cognizant Technology Solutions in the 3rd quarter worth about $27,000. Valley National Advisers Inc. lifted its stake in Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Cognizant Technology Solutions by 33.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock valued at $41,000 after acquiring an additional 158 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Cognizant Technology Solutions by 29.9% during the 1st quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider’s stock valued at $58,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $67.44 on Friday. The stock has a 50-day moving average price of $74.45 and a 200 day moving average price of $72.54. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12-month low of $58.09 and a 12-month high of $80.09. The stock has a market capitalization of $33.57 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.53 and a beta of 1.06.

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 analysts’ consensus estimates of $1.04 by $0.14. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. Cognizant Technology Solutions’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.57%.

Analyst Ratings Changes

CTSH has been the subject of several research reports. Wolfe Research raised shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Royal Bank of Canada increased their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. BMO Capital Markets lowered their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, February 7th. Barclays increased their price objective on shares of 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, Societe Generale reaffirmed a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.94.

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.