Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,549 shares of the information technology service provider’s stock after purchasing an additional 433 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Cognizant Technology Solutions were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sienna Gestion increased its holdings in shares of Cognizant Technology Solutions by 680.3% in the fourth quarter. Sienna Gestion now owns 109,803 shares of the information technology service provider’s stock valued at $8,443,000 after purchasing an additional 95,731 shares during the last quarter. Postrock Partners LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $3,182,000. Commonwealth Equity Services LLC increased its holdings in shares of Cognizant Technology Solutions by 1.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 43,176 shares of the information technology service provider’s stock valued at $3,320,000 after purchasing an additional 503 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $24,923,000. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Cognizant Technology Solutions by 3.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 103,758 shares of the information technology service provider’s stock valued at $7,961,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CTSH shares. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Barclays increased their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Morgan Stanley lowered their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Finally, UBS Group increased their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $83.39.

Cognizant Technology Solutions Trading Up 1.0 %

CTSH opened at $79.12 on Monday. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The stock has a market capitalization of $39.13 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The business has a fifty day moving average price of $82.38 and a 200 day moving average price of $79.42.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Sell-side 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.57%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Cognizant Technology Solutions Company 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.