AGF Management Ltd. Sells 7,658 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

AGF Management Ltd. decreased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 19.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,398 shares of the information technology service provider’s stock after selling 7,658 shares during the period. AGF Management Ltd.’s holdings in Cognizant Technology Solutions were worth $2,491,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $30,000. Trust Co. of Vermont lifted its stake 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 valued at $34,000 after purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. Finally, Spire Wealth Management grew its stake in Cognizant Technology Solutions by 74.7% in 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 period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price objective on shares of 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. Barclays raised their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Sixteen 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.com, the company has a consensus rating of “Hold” and an average price target of $83.39.

Cognizant Technology Solutions Price Performance

CTSH opened at $78.34 on Friday. The company’s 50-day simple moving average is $82.32 and its two-hundred day simple moving average is $79.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market capitalization of $38.75 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS 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 given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Cognizant Technology Solutions Company 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.