Oppenheimer & Co. Inc. boosted its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 115.3% during the fourth quarter, Holdings Channel reports. The fund owned 64,607 shares of the information technology service provider’s stock after purchasing an additional 34,605 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cognizant Technology Solutions were worth $4,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Shine Investment Advisory Services Inc. grew its holdings in Cognizant Technology Solutions by 108.8% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after acquiring an additional 788 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in Cognizant Technology Solutions during the 3rd quarter worth approximately $121,000. Cerebellum GP LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $128,000. WFG Advisors LP lifted its position in shares of Cognizant Technology Solutions by 46.4% in the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Finally, BB&T Investment Services Inc. lifted its position in shares of Cognizant Technology Solutions by 86.8% in the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after purchasing an additional 1,011 shares during the period. 86.87% of the stock is currently owned by hedge funds and other institutional investors.

CTSH has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Barclays boosted their price target on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Citigroup boosted their price target on shares of Cognizant Technology Solutions from $73.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Cantor Fitzgerald restated a “buy” rating and issued a $78.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Finally, Oppenheimer restated a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Six investment analysts have rated the stock with a hold rating, twenty-one have issued 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.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $76.29 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.21. Cognizant Technology Solutions Corp has a 1-year low of $57.00 and a 1-year high of $79.28. The firm has a market cap of $44,984.02, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share 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 firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. equities analysts forecast that Cognizant Technology Solutions Corp will post 3.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be paid a $0.20 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. Cognizant Technology Solutions’s dividend payout ratio is presently 23.72%.

In related news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the 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 completion of the transaction, the insider now owns 271,300 shares in the company, valued at $20,466,872. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Debashis Chatterjee sold 1,726 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $79.00, for a total transaction of $136,354.00. Following the transaction, the insider now owns 39,253 shares of the company’s stock, valued at approximately $3,100,987. The disclosure for this sale can be found here. In the last quarter, insiders sold 994,079 shares of company stock valued at $73,129,749. Company insiders own 1.08% of the company’s stock.

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Cognizant Technology Solutions Company 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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