WASHINGTON TRUST Co Sells 4,087 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

WASHINGTON TRUST Co reduced its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 62,765 shares of the information technology service provider’s stock after selling 4,087 shares during the quarter. WASHINGTON TRUST Co’s holdings in Cognizant Technology Solutions were worth $4,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions during the third quarter valued at approximately $30,000. Trust Co. of Vermont grew its stake in 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 buying an additional 292 shares in the last quarter. Eastern Bank bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth $37,000. Finally, Spire Wealth Management raised its position in shares of Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the subject of several research reports. TD Cowen upped their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Barclays upped their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $83.67.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Up 1.3 %

Shares of NASDAQ:CTSH opened at $90.70 on Friday. The stock’s 50-day moving average is $80.16 and its 200 day moving average is $78.00. The company has a market cap of $44.97 billion, a PE ratio of 20.11, a P/E/G ratio of 2.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

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 (EPS) for the quarter, beating 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 anticipate that Cognizant Technology Solutions Co. will post 4.99 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.37%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.61%.

About Cognizant Technology Solutions

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.