Louisbourg Investments Inc. Raises Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Louisbourg Investments Inc. boosted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,031 shares of the information technology service provider’s stock after acquiring an additional 11,010 shares during the period. Cognizant Technology Solutions accounts for about 1.3% of Louisbourg Investments Inc.’s holdings, making the stock its 26th biggest position. Louisbourg Investments Inc.’s holdings in Cognizant Technology Solutions were worth $5,385,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Cognizant Technology Solutions in the 3rd quarter valued at about $1,972,000. Retirement Systems of Alabama raised its position in shares of Cognizant Technology Solutions by 3.5% in the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock valued at $91,678,000 after purchasing an additional 40,226 shares during the period. CGN Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $1,294,000. Matthews International Capital Management LLC grew its stake in Cognizant Technology Solutions by 52.0% in the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after buying an additional 17,134 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Cognizant Technology Solutions by 12.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock valued at $7,828,000 after buying an additional 11,349 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $87.87 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.23 and a current ratio of 2.09. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $88.06. The firm has a market cap of $43.57 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07. The business has a 50 day moving average price of $79.83 and a 200-day moving average price of $77.84.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 26.61%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTSH shares. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. UBS Group raised their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Mizuho raised their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.67.

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.