Sound View Wealth Advisors Group LLC Purchases 127 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sound View Wealth Advisors Group LLC grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,884 shares of the information technology service provider’s stock after buying an additional 127 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Cognizant Technology Solutions were worth $222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its position in Cognizant Technology Solutions by 146.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock worth $126,940,000 after acquiring an additional 978,579 shares during the period. ING Groep NV grew its position in shares of Cognizant Technology Solutions by 61.5% during the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock worth $191,280,000 after purchasing an additional 943,372 shares in the last quarter. State Street Corp increased its holdings in shares of Cognizant Technology Solutions by 3.6% during the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after purchasing an additional 867,176 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $61,744,000. Finally, Cibc World Market Inc. boosted its stake in shares of Cognizant Technology Solutions by 34.0% in 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 buying an additional 705,946 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CTSH shares. Barclays raised their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. 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. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. BMO Capital Markets boosted their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.67.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $84.00 on Tuesday. The business’s 50-day moving average price is $82.12 and its 200-day moving average price is $79.34. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $41.55 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its 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%. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

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