Grove Bank & Trust Boosts Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Grove Bank & Trust raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 98.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 933 shares of the information technology service provider’s stock after purchasing an additional 464 shares during the period. Grove Bank & Trust’s holdings in Cognizant Technology Solutions were worth $72,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CTSH. Blair William & Co. IL increased its stake in shares of Cognizant Technology Solutions by 6.2% in the second quarter. Blair William & Co. IL now owns 17,837 shares of the information technology service provider’s stock worth $1,213,000 after purchasing an additional 1,042 shares in the last quarter. Intech Investment Management LLC grew its stake in Cognizant Technology Solutions by 16.3% during the second quarter. Intech Investment Management LLC now owns 22,391 shares of the information technology service provider’s stock valued at $1,523,000 after acquiring an additional 3,132 shares in the last quarter. Ieq Capital LLC grew its stake in Cognizant Technology Solutions by 21.3% during the second quarter. Ieq Capital LLC now owns 26,613 shares of the information technology service provider’s stock valued at $1,810,000 after acquiring an additional 4,671 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Cognizant Technology Solutions by 23.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 31,833 shares of the information technology service provider’s stock valued at $2,165,000 after acquiring an additional 6,090 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CTSH shares. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $81.19.

Cognizant Technology Solutions Price Performance

CTSH opened at $77.81 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market capitalization of $38.58 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.96 and a beta of 1.07. The company’s 50-day simple moving average is $78.93 and its two-hundred day simple moving average is $76.57. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

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.