Cairn Investment Group Inc. Boosts Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cairn Investment Group Inc. increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,583 shares of the information technology service provider’s stock after buying an additional 480 shares during the period. Cognizant Technology Solutions accounts for about 2.5% of Cairn Investment Group Inc.’s holdings, making the stock its 13th largest holding. Cairn Investment Group Inc.’s holdings in Cognizant Technology Solutions were worth $4,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Addison Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $30,000. Trust Co. of Vermont grew its stake in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after buying an additional 292 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the last quarter. Finally, Eastern Bank bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Mizuho upped their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report 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 report on Thursday, October 31st. Finally, TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $81.19.

Cognizant Technology Solutions Stock Performance

CTSH opened at $81.19 on Thursday. The firm has a market cap of $40.26 billion, a P/E ratio of 17.96, a PEG ratio of 2.06 and a beta of 1.07. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.46. The company has a 50 day simple moving average of $78.94 and a two-hundred day simple moving average of $77.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business posted $1.16 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.