Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,364,727 shares of the information technology service provider’s stock after buying an additional 57,141 shares during the period. Russell Investments Group Ltd. owned approximately 0.27% of Cognizant Technology Solutions worth $103,156,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $26,000. NBC Securities Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $27,000. Valley National Advisers Inc. boosted its stake 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 worth $44,000 after acquiring an additional 178 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Cognizant Technology Solutions by 26.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock worth $52,000 after acquiring an additional 162 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.3 %

Shares of CTSH stock traded up $0.18 on Friday, reaching $66.94. 2,818,907 shares of the stock were exchanged, compared to its average volume of 3,583,097. The stock has a market cap of $33.33 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. 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 firm has a 50 day moving average of $73.52 and a two-hundred day moving average of $72.53. Cognizant Technology Solutions Co. has a 1-year low of $58.47 and a 1-year high of $80.09.

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. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

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

Insider Activity

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Societe Generale reissued a “sell” rating and set a $67.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Barclays reduced their target price on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday. Susquehanna reaffirmed a “neutral” rating and issued a $80.00 target price (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. Evercore ISI upped their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Finally, Citigroup reduced their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $76.13.

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.