National Bank of Canada FI Increases Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

National Bank of Canada FI boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 9.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,769,110 shares of the information technology service provider's stock after acquiring an additional 401,076 shares during the quarter. Cognizant Technology Solutions accounts for about 0.6% of National Bank of Canada FI's investment portfolio, making the stock its 29th largest holding. National Bank of Canada FI owned approximately 0.95% of Cognizant Technology Solutions worth $354,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vision Capital Management Inc. raised its position in Cognizant Technology Solutions by 0.4% during the 4th quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider's stock valued at $2,916,000 after purchasing an additional 144 shares during the last quarter. Nilsine Partners LLC raised its holdings in shares of Cognizant Technology Solutions by 4.3% during the fourth quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider's stock valued at $284,000 after acquiring an additional 156 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Cognizant Technology Solutions by 26.5% in the third quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider's stock worth $52,000 after acquiring an additional 162 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in Cognizant Technology Solutions by 5.4% in the third quarter. Sound View Wealth Advisors Group LLC now owns 3,241 shares of the information technology service provider's stock valued at $220,000 after acquiring an additional 165 shares in the last quarter. Finally, Valley National Advisers Inc. increased its position in Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider's stock valued at $44,000 after purchasing an additional 178 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CTSH shares. Susquehanna dropped their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Thursday. Wedbush restated an "outperform" rating and issued a $85.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday. StockNews.com cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Barclays dropped their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $75.63.

Cognizant Technology Solutions Stock Down 0.0 %

Shares of NASDAQ CTSH traded down $0.02 during midday trading on Friday, hitting $66.25. The stock had a trading volume of 7,399,746 shares, compared to its average volume of 3,943,487. The company has a market cap of $32.98 billion, a P/E ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 2.25, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. The business's 50 day moving average is $72.31 and its 200-day moving average is $72.46. Cognizant Technology Solutions Co. has a 52 week low of $60.26 and a 52 week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. The business had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm's quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 EPS. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions's dividend payout ratio is currently 28.85%.

Insider Activity

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

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.