Groesbeck Investment Management Corp NJ lessened its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 17,960 shares of the information technology service provider’s stock after selling 800 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Cognizant Technology Solutions were worth $1,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its holdings in shares of Cognizant Technology Solutions by 115.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 64,607 shares of the information technology service provider’s stock valued at $4,588,000 after purchasing an additional 34,605 shares in the last quarter. KBC Group NV increased its holdings in shares of Cognizant Technology Solutions by 208.9% in the 4th quarter. KBC Group NV now owns 347,009 shares of the information technology service provider’s stock valued at $24,645,000 after purchasing an additional 234,670 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Cognizant Technology Solutions by 15.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 112,893 shares of the information technology service provider’s stock valued at $8,018,000 after purchasing an additional 14,902 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Cognizant Technology Solutions by 3.4% in the 4th quarter. California Public Employees Retirement System now owns 1,456,326 shares of the information technology service provider’s stock valued at $103,428,000 after purchasing an additional 48,008 shares in the last quarter. Finally, Icon Advisers Inc. Co. increased its holdings in shares of Cognizant Technology Solutions by 148.7% in the 4th quarter. Icon Advisers Inc. Co. now owns 169,871 shares of the information technology service provider’s stock valued at $12,064,000 after purchasing an additional 101,571 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (CTSH) opened at $76.29 on Friday. Cognizant Technology Solutions Corp has a 12 month low of $56.29 and a 12 month high of $79.28. The stock has a market cap of $45,660.00, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be paid a dividend of $0.20 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, February 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 23.81%.

In other Cognizant Technology Solutions news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $75.44, for a total transaction of $1,886,000.00. Following the sale, the insider now directly owns 271,300 shares of the company’s stock, valued at approximately $20,466,872. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sumithra Gomatam sold 2,625 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $76.00, for a total transaction of $199,500.00. Following the sale, the insider now directly owns 40,979 shares in the company, valued at $3,114,404. The disclosure for this sale can be found here. Insiders have sold a total of 996,790 shares of company stock worth $73,331,177 over the last ninety days. 1.08% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Cognizant Technology Solutions from $78.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday. Cowen reissued a “buy” rating and issued a $90.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday. Credit Suisse Group set a $100.00 price objective on shares of Cognizant Technology Solutions and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC increased their price objective on shares of Cognizant Technology Solutions from $90.00 to $100.00 and gave the company a “strong-buy” rating in a research note on Thursday. Finally, Barclays increased their price objective on shares of Cognizant Technology Solutions from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Cognizant Technology Solutions currently has an average rating of “Buy” and an average price target of $84.21.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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