Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 22.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 342,215 shares of the information technology service provider's stock after acquiring an additional 63,027 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Cognizant Technology Solutions worth $25,847,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC lifted its holdings in Cognizant Technology Solutions by 18.8% in the 4th quarter. SVB Wealth LLC now owns 5,622 shares of the information technology service provider's stock valued at $425,000 after purchasing an additional 889 shares in the last quarter. LifePlan Financial LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter valued at $523,000. Flputnam Investment Management Co. lifted its holdings in Cognizant Technology Solutions by 17.5% in the 4th quarter. Flputnam Investment Management Co. now owns 31,089 shares of the information technology service provider's stock valued at $2,348,000 after purchasing an additional 4,635 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new position in Cognizant Technology Solutions in the 4th quarter valued at $438,000. Finally, Strs Ohio lifted its holdings in Cognizant Technology Solutions by 3.6% in the 4th quarter. Strs Ohio now owns 67,823 shares of the information technology service provider's stock valued at $5,122,000 after purchasing an additional 2,333 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Insider Transactions at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup lifted their price target on Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, January 17th. Evercore ISI lifted their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an "in-line" rating in a report on Tuesday, March 26th. Susquehanna reiterated a "neutral" rating and set a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Guggenheim assumed coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They set a "neutral" rating and a $80.00 price target on the stock. Finally, Societe Generale reissued a "sell" rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $75.65.

Cognizant Technology Solutions Stock Down 0.6 %

CTSH stock traded down $0.41 during trading on Thursday, hitting $67.13. 4,601,935 shares of the company's stock were exchanged, compared to its average volume of 4,338,945. The business has a 50-day moving average price of $74.87 and a two-hundred day moving average price of $72.55. The stock has a market capitalization of $33.42 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.55 and a beta of 1.06. Cognizant Technology Solutions Co. has a 52-week low of $58.09 and a 52-week high of $80.09. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The company had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.6 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.29. Cognizant Technology Solutions's dividend payout ratio is 28.57%.

Cognizant Technology Solutions 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.