Mackenzie Financial Corp Decreases Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mackenzie Financial Corp lessened its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,879 shares of the information technology service provider's stock after selling 12,945 shares during the quarter. Mackenzie Financial Corp's holdings in Cognizant Technology Solutions were worth $7,619,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter worth about $26,000. NBC Securities Inc. acquired a new position in Cognizant Technology Solutions during the third quarter worth about $27,000. Parkside Financial Bank & Trust raised its stake in Cognizant Technology Solutions by 33.5% during the second quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider's stock worth $41,000 after acquiring an additional 158 shares in the last quarter. Valley National Advisers Inc. raised its stake in Cognizant Technology Solutions by 43.2% during the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider's stock worth $44,000 after acquiring an additional 178 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth about $45,000. Institutional investors own 92.44% of the company's stock.

Insiders Place Their Bets

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

Cognizant Technology Solutions Trading Up 0.5 %

Shares of Cognizant Technology Solutions stock traded up $0.31 on Friday, reaching $67.44. 4,889,491 shares of the company's stock were exchanged, compared to its average volume of 4,128,050. The company has a market capitalization of $33.57 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 1.53 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 firm's 50-day moving average is $74.45 and its two-hundred day moving average is $72.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.14. The firm had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. Cognizant Technology Solutions's dividend payout ratio is presently 28.57%.

Wall Street Analyst Weigh In

CTSH has been the subject of several research analyst reports. Royal Bank of Canada boosted their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 7th. Jefferies Financial Group raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating and boosted their target price for the stock from $70.00 to $85.00 in a research note on Thursday, January 11th. Societe Generale reaffirmed a "sell" rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Barclays upped their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 23rd. Finally, Mizuho initiated coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a "neutral" rating and a $82.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of "Hold" and an average price target of $76.94.

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.