Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,569 shares of the information technology service provider’s stock after acquiring an additional 16,737 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $10,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC raised its holdings in 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 valued at $26,000 after buying an additional 189 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions in the 3rd quarter valued at about $30,000. Trust Co. of Vermont raised its holdings 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 valued at $34,000 after buying an additional 292 shares during the period. Pinnacle Bancorp Inc. raised its holdings in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the period. Finally, Spire Wealth Management raised its holdings 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 valued at $37,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

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

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $87.09 on Friday. The company has a market capitalization of $43.18 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $87.61. The stock has a 50 day moving average price of $79.31 and a 200 day moving average price of $77.45. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be issued a $0.31 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTSH. Morgan Stanley boosted their price objective on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday. TD Cowen boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $95.00 in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft boosted 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. Finally, Mizuho boosted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.22.

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.