Tobam Has $86,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tobam trimmed its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 23.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,114 shares of the information technology service provider’s stock after selling 347 shares during the period. Tobam’s holdings in Cognizant Technology Solutions were worth $86,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. State Street Corp grew its stake in shares of Cognizant Technology Solutions by 3.6% in the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after buying an additional 867,176 shares during the period. Geode Capital Management LLC boosted its holdings in Cognizant Technology Solutions by 1.3% in the third quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after acquiring an additional 173,667 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cognizant Technology Solutions by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock valued at $250,428,000 after acquiring an additional 44,129 shares during the period. Cibc World Market Inc. increased its holdings in shares of Cognizant Technology Solutions by 34.0% during the fourth quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock valued at $214,141,000 after acquiring an additional 705,946 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Cognizant Technology Solutions by 29.7% during the third quarter. Bank of Montreal Can now owns 2,748,982 shares of the information technology service provider’s stock worth $211,369,000 after purchasing an additional 628,970 shares during the period. 92.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada lifted 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. Mizuho boosted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday. Sixteen 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 company has an average rating of “Hold” and a consensus target price of $83.22.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction that occurred 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 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 filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Price Performance

CTSH opened at $86.20 on Friday. The firm has a market cap of $42.74 billion, a P/E ratio of 19.07, a PEG ratio of 2.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $87.61. The firm has a 50-day moving average of $79.44 and a 200 day moving average of $77.52.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly 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 11.60% and a return on equity of 17.08%. On average, research analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend 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.