Clark Estates Inc. NY Has $2.63 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Clark Estates Inc. NY trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,161 shares of the information technology service provider’s stock after selling 4,139 shares during the period. Clark Estates Inc. NY’s holdings in Cognizant Technology Solutions were worth $2,627,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Graypoint LLC lifted its holdings in shares of Cognizant Technology Solutions by 2.9% during the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock worth $369,000 after buying an additional 134 shares during the last quarter. Sandy Cove Advisors LLC boosted its holdings in Cognizant Technology Solutions by 3.2% in the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock valued at $333,000 after purchasing an additional 135 shares during the period. Steward Partners Investment Advisory LLC grew its position in Cognizant Technology Solutions by 3.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,441 shares of the information technology service provider’s stock worth $342,000 after purchasing an additional 166 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 3.5% during the 4th quarter. Cidel Asset Management Inc. now owns 5,338 shares of the information technology service provider’s stock worth $410,000 after purchasing an additional 182 shares during the period. Finally, Ritholtz Wealth Management raised its position in shares of Cognizant Technology Solutions by 2.1% during the fourth quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock valued at $669,000 after buying an additional 183 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $83.74 on Wednesday. The company has a market capitalization of $41.42 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 2.11 and a beta of 1.07. The firm’s 50 day simple moving average is $81.73 and its 200 day simple moving average is $79.12. 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 fifty-two week low of $63.79 and a fifty-two week high of $90.82.

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

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.48%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTSH. UBS Group boosted their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley upped their target price on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Royal Bank of Canada upped 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. Finally, BMO Capital Markets upped their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Sixteen equities 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 has an average rating of “Hold” and a consensus target price of $83.67.

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.