SRN Advisors LLC Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

SRN Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 4th quarter, HoldingsChannel reports. The firm purchased 10,633 shares of the information technology service provider’s stock, valued at approximately $818,000.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $1,972,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Cognizant Technology Solutions by 8.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,134 shares of the information technology service provider’s stock worth $3,561,000 after acquiring an additional 3,647 shares during the period. abrdn plc raised its holdings in shares of Cognizant Technology Solutions by 1.4% during the third quarter. abrdn plc now owns 223,082 shares of the information technology service provider’s stock worth $17,101,000 after purchasing an additional 3,079 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Cognizant Technology Solutions by 110.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,287 shares of the information technology service provider’s stock valued at $485,000 after purchasing an additional 3,298 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Cognizant Technology Solutions by 12.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 2,513 shares of the information technology service provider’s stock valued at $194,000 after purchasing an additional 285 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

CTSH has been the subject of a number of recent research reports. TD Cowen lifted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. UBS Group raised their price objective on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Mizuho boosted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.67.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $84.15 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The firm has a market capitalization of $41.62 billion, a PE ratio of 18.66, a P/E/G ratio of 2.11 and a beta of 1.07. The business’s 50 day moving average price is $81.38 and its 200-day moving average price is $78.84.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.47%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 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.