Tokio Marine Asset Management Co. Ltd. Purchases 273 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,096 shares of the information technology service provider’s stock after purchasing an additional 273 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $838,000 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 position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $26,000. NBC Securities Inc. purchased a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $27,000. Valley National Advisers Inc. lifted its holdings in shares of 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 buying an additional 178 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock worth $52,000 after buying an additional 162 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $52,000. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

CTSH has been the topic of several research reports. Guggenheim assumed coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Royal Bank of Canada boosted their price objective on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. Citigroup decreased their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Evercore ISI boosted their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. One analyst has 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 MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $76.13.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions 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 completion of the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Price Performance

CTSH opened at $66.94 on Friday. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $73.52 and a 200 day moving average of $72.50. Cognizant Technology Solutions Co. has a 52-week low of $58.47 and a 52-week high of $80.09. The stock has a market cap of $33.33 billion, a P/E ratio of 15.94, a PEG ratio of 1.52 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the firm posted $1.01 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a dividend of $0.30 per share. This is a positive change 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 dividend on an annualized basis and a yield of 1.79%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.57%.

Cognizant Technology Solutions Company 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.