Hendershot Investments Inc. Raises Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Hendershot Investments Inc. raised its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 222,052 shares of the information technology service provider’s stock after purchasing an additional 4,720 shares during the period. Cognizant Technology Solutions comprises about 2.3% of Hendershot Investments Inc.’s investment portfolio, making the stock its 14th largest position. Hendershot Investments Inc.’s holdings in Cognizant Technology Solutions were worth $17,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CTSH. Addison Advisors LLC lifted its position in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $30,000. Trust Co. of Vermont lifted its holdings in shares of 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 valued at $34,000 after purchasing an additional 292 shares during the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $37,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 1.0 %

NASDAQ CTSH opened at $86.20 on Friday. The stock has a market cap of $42.74 billion, a PE ratio of 19.07, a P/E/G ratio of 2.21 and a beta of 1.07. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $87.61. The stock’s 50 day moving average is $79.55 and its 200 day moving average is $77.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.31 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.44%. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. TD Cowen increased their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their target price 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.22.

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.