20,552 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Acquired by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR acquired a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,552 shares of the information technology service provider’s stock, valued at approximately $1,580,000.

A number of other hedge funds also recently added to or reduced their stakes in CTSH. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Trust Co. of Vermont grew its position 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 purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. Spire Wealth Management grew its position in Cognizant Technology Solutions by 74.7% in the 4th 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. Finally, Morton Brown Family Wealth LLC bought a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $37,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTSH has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Royal Bank of Canada boosted their price objective on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, UBS Group cut their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday. Fifteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.71.

Cognizant Technology Solutions Stock Down 3.1 %

CTSH opened at $77.21 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The firm’s fifty day moving average is $82.64 and its 200 day moving average is $79.44. The stock has a market cap of $38.19 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping 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%. On average, sell-side analysts forecast 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. Shareholders of record on Tuesday, February 18th were paid a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.61%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is presently 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.