iA Global Asset Management Inc. Has $4.11 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

iA Global Asset Management Inc. lowered its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,442 shares of the information technology service provider’s stock after selling 1,987 shares during the quarter. iA Global Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $4,110,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Sound View Wealth Advisors Group LLC grew its position in Cognizant Technology Solutions by 4.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock valued at $222,000 after purchasing an additional 127 shares during the period. Graypoint LLC grew its position in Cognizant Technology Solutions by 2.9% in the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after purchasing an additional 134 shares during the period. Parallel Advisors LLC grew its position in Cognizant Technology Solutions by 1.5% in the 4th quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider’s stock valued at $704,000 after purchasing an additional 134 shares during the period. Sandy Cove Advisors LLC grew its position in Cognizant Technology Solutions by 3.2% in the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock valued at $333,000 after purchasing an additional 135 shares during the period. Finally, Argent Advisors Inc. boosted its holdings in Cognizant Technology Solutions by 1.2% during the 4th quarter. Argent Advisors Inc. now owns 12,607 shares of the information technology service provider’s stock worth $969,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CTSH. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. UBS Group cut their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday. BMO Capital Markets lifted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a 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 on the stock in a report on Wednesday, March 12th. Finally, Royal Bank of Canada lifted 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 report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.71.

Cognizant Technology Solutions Trading Down 3.1 %

Shares of Cognizant Technology Solutions stock opened at $77.21 on Friday. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The stock’s 50-day simple moving average is $82.64 and its 200 day simple moving average is $79.44. The stock has a market capitalization of $38.19 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.11 and a beta of 1.12. 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 (NASDAQ:CTSH) last announced its quarterly earnings data 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%. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current 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 given a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.61%. Cognizant Technology Solutions’s dividend payout ratio is currently 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.