Intech Investment Management LLC Has $1.49 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Intech Investment Management LLC cut its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,418 shares of the information technology service provider’s stock after selling 590 shares during the period. Intech Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $1,493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Trust Co. of Vermont lifted its position in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Spire Wealth Management increased its position in shares of Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 1.0 %

CTSH opened at $76.42 on Friday. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The firm has a 50-day moving average price of $82.66 and a two-hundred day moving average price of $79.43. The stock has a market capitalization of $37.80 billion, a PE ratio of 16.94, a PEG ratio of 2.11 and a beta of 1.12. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping the consensus estimate 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, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTSH. Morgan Stanley lowered their price target 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. BMO Capital Markets increased their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. UBS Group decreased their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Mizuho raised Cognizant Technology Solutions to a “hold” rating in a report on Wednesday. Finally, StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.71.

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.