MFA Wealth Services Invests $320,000 in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

MFA Wealth Services acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,163 shares of the information technology service provider’s stock, valued at approximately $320,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Addison Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions during the third quarter worth about $30,000. Trust Co. of Vermont increased its holdings in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $79.68 on Friday. The business has a 50-day moving average of $78.73 and a two-hundred day moving average of $76.73. The firm has a market capitalization of $39.51 billion, a PE ratio of 17.63, a P/E/G ratio of 2.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company posted $1.16 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $81.19.

About Cognizant Technology Solutions

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.