Asset Dedication LLC Raises Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Asset Dedication LLC boosted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 848.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 683 shares of the information technology service provider’s stock after purchasing an additional 611 shares during the period. Asset Dedication LLC’s holdings in Cognizant Technology Solutions were worth $53,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Creative Planning grew its position in Cognizant Technology Solutions by 5.6% during the second quarter. Creative Planning now owns 40,905 shares of the information technology service provider’s stock valued at $2,782,000 after buying an additional 2,181 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Cognizant Technology Solutions by 43.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 22,555 shares of the information technology service provider’s stock valued at $1,534,000 after acquiring an additional 6,838 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $4,714,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Cognizant Technology Solutions by 1,338.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 666,144 shares of the information technology service provider’s stock worth $45,298,000 after purchasing an additional 619,844 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Cognizant Technology Solutions by 18.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,787 shares of the information technology service provider’s stock valued at $138,000 after purchasing an additional 274 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CTSH shares. Deutsche Bank Aktiengesellschaft raised their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Mizuho boosted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $81.19.

Insiders Place Their Bets

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $82.76 on Friday. The firm has a 50 day simple moving average of $79.01 and a two-hundred day simple moving average of $77.14. The stock has a market cap of $41.03 billion, a PE ratio of 18.31, a P/E/G ratio of 2.06 and a beta of 1.07. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $83.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

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.