Hartford Investment Management Co. Sells 592 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Hartford Investment Management Co. trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,556 shares of the information technology service provider’s stock after selling 592 shares during the quarter. Hartford Investment Management Co.’s holdings in Cognizant Technology Solutions were worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC boosted its holdings 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 acquiring an additional 189 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at $30,000. Trust Co. of Vermont boosted its stake in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Eastern Bank acquired a new position in Cognizant Technology Solutions during the 3rd quarter worth about $37,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Up 1.7 %

NASDAQ CTSH opened at $89.58 on Friday. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $89.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.23. The firm has a market cap of $44.42 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.32 and a beta of 1.07. The stock’s 50-day moving average is $79.98 and its 200-day moving average is $77.92.

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

Cognizant Technology Solutions Increases Dividend

The company 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 is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.38%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.61%.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Barclays upped their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday. Robert W. Baird lifted their target price 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. TD Cowen upped 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. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.67.

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.