Cascade Investment Advisors Inc. Has $1.89 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cascade Investment Advisors Inc. lessened its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,512 shares of the information technology service provider’s stock after selling 270 shares during the quarter. Cognizant Technology Solutions accounts for approximately 1.2% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 25th biggest position. Cascade Investment Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $1,885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in Cognizant Technology Solutions by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 467,772 shares of the information technology service provider’s stock valued at $31,808,000 after buying an additional 17,411 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Cognizant Technology Solutions by 5.0% in the 2nd quarter. Mackenzie Financial Corp now owns 163,840 shares of the information technology service provider’s stock valued at $11,141,000 after purchasing an additional 7,760 shares in the last quarter. Scientech Research LLC bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at approximately $493,000. Creative Planning increased its position in Cognizant Technology Solutions by 5.6% during the 2nd quarter. Creative Planning now owns 40,905 shares of the information technology service provider’s stock worth $2,782,000 after purchasing an additional 2,181 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Cognizant Technology Solutions by 43.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 22,555 shares of the information technology service provider’s stock valued at $1,534,000 after purchasing an additional 6,838 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CTSH shares. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. TD Cowen lifted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird upped their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $81.19.

Cognizant Technology Solutions Stock Up 1.3 %

Cognizant Technology Solutions stock opened at $81.12 on Tuesday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $40.22 billion, a PE ratio of 17.95, a PEG ratio of 2.06 and a beta of 1.07. The firm’s fifty day moving average is $78.76 and its 200 day moving average is $76.97. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $1.16 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

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.