Intech Investment Management LLC Sells 590 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Intech Investment Management LLC lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 19,418 shares of the information technology service provider’s stock after selling 590 shares during the period. Intech Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $1,493,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CTSH. Retirement Systems of Alabama increased its stake in shares of Cognizant Technology Solutions by 3.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock valued at $91,678,000 after acquiring an additional 40,226 shares during the last quarter. CGN Advisors LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth $1,294,000. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Cognizant Technology Solutions by 50.7% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after purchasing an additional 144,535 shares in the last quarter. Todd Asset Management LLC grew its holdings in shares of Cognizant Technology Solutions by 24.4% in the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock valued at $33,568,000 after buying an additional 85,539 shares during the period. Finally, Matthews International Capital Management LLC increased its position in shares of Cognizant Technology Solutions by 52.0% in the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after buying an additional 17,134 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $76.42 on Friday. The company has a market cap of $37.80 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.11 and a beta of 1.12. 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 company’s fifty day simple moving average is $82.66 and its 200 day simple moving average is $79.43. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82.

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 (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.62%. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of research analyst reports. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. BMO Capital Markets increased their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday. Finally, UBS Group cut their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.71.

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.