Bank of New York Mellon Corp Sells 421,472 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bank of New York Mellon Corp lessened its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,540,011 shares of the information technology service provider’s stock after selling 421,472 shares during the quarter. Bank of New York Mellon Corp owned 2.13% of Cognizant Technology Solutions worth $810,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sentry Investment Management LLC bought a new position in Cognizant Technology Solutions in the fourth quarter valued at about $153,000. IFP Advisors Inc boosted its stake in shares of Cognizant Technology Solutions by 46.2% in the 4th quarter. IFP Advisors Inc now owns 3,846 shares of the information technology service provider’s stock valued at $300,000 after purchasing an additional 1,215 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $1,962,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Cognizant Technology Solutions by 4.5% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 170,420 shares of the information technology service provider’s stock worth $13,105,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Howard Capital Management Inc. lifted its stake in Cognizant Technology Solutions by 0.8% in the 4th quarter. Howard Capital Management Inc. now owns 59,100 shares of the information technology service provider’s stock valued at $4,545,000 after purchasing an additional 443 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated 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 owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $84.84 on Wednesday. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $81.26 and a 200-day moving average price of $78.80. The firm has a market cap of $41.96 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share 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 expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.46%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CTSH shares. Morgan Stanley boosted their target price on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Mizuho boosted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, BMO Capital Markets raised their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.