Mitsubishi UFJ Trust & Banking Corp Sells 1,360 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,219,471 shares of the information technology service provider’s stock after selling 1,360 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.25% of Cognizant Technology Solutions worth $93,777,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Trust Co. of Vermont increased its stake in 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $36,000. Spire Wealth Management lifted its position in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $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 a number of research analyst reports. Barclays boosted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on shares of 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. UBS Group lowered their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Fifteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.71.

Cognizant Technology Solutions Stock Up 2.0 %

Shares of NASDAQ CTSH opened at $77.94 on Tuesday. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The firm has a market capitalization of $38.55 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.11 and a beta of 1.12. The stock has a 50 day moving average price of $82.68 and a 200 day moving average price of $79.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

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 the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.59%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

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.