Royal London Asset Management Ltd. Has $16.65 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Royal London Asset Management Ltd. grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,541 shares of the information technology service provider’s stock after buying an additional 11,655 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cognizant Technology Solutions were worth $16,652,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Trust Co. of Vermont boosted its holdings in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Cognizant Technology Solutions during the fourth quarter worth about $36,000. Spire Wealth Management boosted its holdings in 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 worth $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter worth about $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTSH. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Royal Bank of Canada boosted their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday. Finally, UBS Group lowered their price objective 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. Fifteen 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.com, the stock has a consensus rating of “Hold” and an average target price of $83.71.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $76.42 on Friday. The company’s 50 day moving average is $82.66 and its 200-day moving average is $79.45. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. 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 firm has a market cap of $37.80 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current 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 paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.62%. This is a boost 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.