Goodman Financial Corp Reduces Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Goodman Financial Corp lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,439 shares of the information technology service provider’s stock after selling 5,186 shares during the period. Cognizant Technology Solutions accounts for 3.0% of Goodman Financial Corp’s investment portfolio, making the stock its 13th biggest holding. Goodman Financial Corp’s holdings in Cognizant Technology Solutions were worth $14,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $28,000. Trust Co. of Vermont boosted its holdings in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after buying an additional 292 shares during the period. SBI Securities Co. Ltd. purchased a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $36,000. Spire Wealth Management raised its holdings in Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $37,000. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CTSH. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday. UBS Group decreased their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.71.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $77.21 on Friday. The firm has a market capitalization of $38.19 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The business’s 50-day moving average price is $82.64 and its 200-day moving average price is $79.44.

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

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.61%. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

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.