Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Horizon Investments LLC

Horizon Investments LLC boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 405.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,393 shares of the information technology service provider’s stock after buying an additional 27,587 shares during the period. Horizon Investments LLC’s holdings in Cognizant Technology Solutions were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of CTSH. Retirement Systems of Alabama increased its stake in shares of Cognizant Technology Solutions by 3.5% during the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after acquiring an additional 40,226 shares during the period. CGN Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $1,294,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Cognizant Technology Solutions by 50.7% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock valued at $33,041,000 after buying an additional 144,535 shares during the period. Todd Asset Management LLC boosted its stake in shares of Cognizant Technology Solutions by 24.4% in the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock valued at $33,568,000 after buying an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC grew its holdings in Cognizant Technology Solutions by 52.0% during the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after acquiring an additional 17,134 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CTSH shares. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. UBS Group decreased their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Barclays boosted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada raised their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.50.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $79.58 on Wednesday. The company has a market cap of $39.36 billion, a P/E ratio of 17.65, a P/E/G ratio of 2.11 and a beta of 1.12. The firm’s 50 day moving average is $82.54 and its two-hundred day moving average is $79.46. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

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.