Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 591,352 shares of the information technology service provider’s stock after buying an additional 36,044 shares during the period. Sei Investments Co.’s holdings in Cognizant Technology Solutions were worth $45,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sound View Wealth Advisors Group LLC raised its holdings in Cognizant Technology Solutions by 4.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock valued at $222,000 after acquiring an additional 127 shares during the last quarter. Graypoint LLC increased its holdings in shares of Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after purchasing an additional 134 shares during the last quarter. Parallel Advisors LLC lifted its position in Cognizant Technology Solutions by 1.5% during the fourth quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider’s stock worth $704,000 after buying an additional 134 shares in the last quarter. Sandy Cove Advisors LLC boosted its stake in Cognizant Technology Solutions by 3.2% during the fourth quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after buying an additional 135 shares during the last quarter. Finally, Argent Advisors Inc. grew its holdings in Cognizant Technology Solutions by 1.2% in the 4th quarter. Argent Advisors Inc. now owns 12,607 shares of the information technology service provider’s stock valued at $969,000 after buying an additional 151 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Morgan Stanley decreased their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. UBS Group reduced their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada upped their price target 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. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.71.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $77.94 on Tuesday. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The firm has a 50 day moving average of $82.68 and a two-hundred day moving average of $79.47. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $38.55 billion, a PE ratio of 17.28, a P/E/G ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.59%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. 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.