International Assets Investment Management LLC Buys New Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

International Assets Investment Management LLC purchased a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 23,641 shares of the information technology service provider's stock, valued at approximately $1,786,000.

Other institutional investors have also modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Cognizant Technology Solutions in the third quarter worth about $27,000. Parkside Financial Bank & Trust lifted its holdings in Cognizant Technology Solutions by 33.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider's stock worth $41,000 after buying an additional 158 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in Cognizant Technology Solutions by 29.9% during the 1st quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider's stock worth $58,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $52,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Cognizant Technology Solutions by 26.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider's stock worth $52,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

CTSH traded up $0.31 during trading hours on Friday, hitting $67.44. The company's stock had a trading volume of 4,889,491 shares, compared to its average volume of 4,128,050. Cognizant Technology Solutions Co. has a fifty-two week low of $58.09 and a fifty-two 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. The firm has a market capitalization of $33.57 billion, a PE ratio of 16.06, a PEG ratio of 1.54 and a beta of 1.06. The company has a 50-day simple moving average of $74.45 and a 200 day simple moving average of $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $4.76 billion. During the same period last year, the firm earned $1.01 EPS. The firm's revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays increased their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 23rd. BMO Capital Markets reduced their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a "market perform" rating on the stock in a report on Wednesday, February 7th. Societe Generale reissued a "sell" rating and issued a $67.00 price target on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Guggenheim started coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a "neutral" rating and a $80.00 price target on the stock. Finally, Wolfe Research raised Cognizant Technology Solutions from an "underperform" rating to a "peer perform" rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of "Hold" and an average target price of $76.94.

Insider Activity

In other news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction 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 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 legal filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by insiders.

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.