Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 380,836 shares of the information technology service provider’s stock after selling 559 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cognizant Technology Solutions were worth $29,286,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions by 127.7% in the 3rd 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 during the period. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $30,000. Trust Co. of Vermont boosted its holdings 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 purchasing an additional 292 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CTSH shares. BMO Capital Markets lifted their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Barclays lifted their target price 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 research note on Thursday, February 6th. Royal Bank of Canada raised their price target 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, UBS Group raised their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note 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. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $83.67.

Cognizant Technology Solutions Trading Up 0.9 %

Shares of NASDAQ CTSH opened at $84.00 on Tuesday. 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 business has a fifty day simple moving average of $82.12 and a two-hundred day simple moving average of $79.34. The firm has a market cap of $41.55 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. 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 declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

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.