Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 26.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,478 shares of the information technology service provider’s stock after selling 527 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Cognizant Technology Solutions were worth $114,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CTSH. Exchange Traded Concepts LLC acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth $161,000. CX Institutional raised its position in Cognizant Technology Solutions by 5.3% in the third quarter. CX Institutional now owns 4,066 shares of the information technology service provider’s stock worth $314,000 after acquiring an additional 205 shares in the last quarter. Creative Planning raised its position in Cognizant Technology Solutions by 8.6% in the third quarter. Creative Planning now owns 44,423 shares of the information technology service provider’s stock worth $3,429,000 after acquiring an additional 3,518 shares in the last quarter. Twelve Points Wealth Management LLC purchased a new position in Cognizant Technology Solutions in the third quarter worth $756,000. Finally, Bleakley Financial Group LLC raised its position in Cognizant Technology Solutions by 3.8% in the third quarter. Bleakley Financial Group LLC now owns 5,972 shares of the information technology service provider’s stock worth $461,000 after acquiring an additional 220 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Up 1.7 %

CTSH opened at $89.58 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market cap of $44.42 billion, a P/E ratio of 19.86, a PEG ratio of 2.32 and a beta of 1.07. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $89.63. The business’s fifty day simple moving average is $79.98 and its 200 day simple moving average is $77.92.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.99 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.38%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.61%.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’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 sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group increased their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley increased their price objective on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Mizuho increased their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.67.

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.