Headlands Technologies LLC Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Headlands Technologies LLC bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,511 shares of the information technology service provider’s stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. IFG Advisory LLC raised its holdings in Cognizant Technology Solutions by 45.1% during the fourth quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after purchasing an additional 20,874 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Cognizant Technology Solutions by 36.0% in the third quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after buying an additional 324,638 shares in the last quarter. PGGM Investments increased its holdings in Cognizant Technology Solutions by 53.8% in the third quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock valued at $5,041,000 after buying an additional 26,035 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Cognizant Technology Solutions by 110.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock valued at $91,082,000 after buying an additional 704,932 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in Cognizant Technology Solutions by 4.4% in the fourth quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock valued at $358,000 after buying an additional 199 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Evercore ISI increased their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Susquehanna reaffirmed a “neutral” rating and issued a $80.00 target price (down from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Mizuho started coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price target on the stock. Citigroup lowered their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.13.

Cognizant Technology Solutions Trading Up 0.3 %

NASDAQ:CTSH traded up $0.18 during trading hours on Friday, reaching $66.94. 2,818,907 shares of the company were exchanged, compared to its average volume of 3,583,097. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market cap of $33.33 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.52 and a beta of 1.06. Cognizant Technology Solutions Co. has a 52-week low of $58.47 and a 52-week high of $80.09. The stock has a 50 day simple moving average of $73.52 and a 200 day simple moving average of $72.50.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Friday, February 16th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.57%.

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.