Cresset Asset Management LLC Has $535,000 Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cresset Asset Management LLC lowered its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 83.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,957 shares of the information technology service provider's stock after selling 34,982 shares during the quarter. Cresset Asset Management LLC's holdings in Cognizant Technology Solutions were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth $28,000. Trust Co. of Vermont grew its position 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 purchasing an additional 292 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth $36,000. Spire Wealth Management grew its position in Cognizant Technology Solutions by 74.7% in the 4th 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, Morton Brown Family Wealth LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth $37,000. Institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CTSH shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Morgan Stanley cut their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Finally, Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price target for the company from $77.00 to $90.00 in a report on Thursday, May 1st. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and an average price target of $83.87.

Cognizant Technology Solutions Trading Up 0.1%

Shares of CTSH traded up $0.08 on Friday, reaching $81.44. 5,603,555 shares of the company's stock were exchanged, compared to its average volume of 3,568,115. 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 market capitalization of $40.28 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. The business has a 50 day moving average price of $75.00 and a two-hundred day moving average price of $78.84. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Cognizant Technology Solutions's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Cognizant Technology Solutions declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

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.