Gulf International Bank UK Ltd Boosts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Gulf International Bank UK Ltd boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,846 shares of the information technology service provider’s stock after purchasing an additional 1,744 shares during the period. Gulf International Bank UK Ltd’s holdings in Cognizant Technology Solutions were worth $3,217,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CTSH. International Assets Investment Management LLC purchased a new position in shares of Cognizant Technology Solutions in the third quarter worth $1,972,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Cognizant Technology Solutions by 8.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,134 shares of the information technology service provider’s stock worth $3,561,000 after buying an additional 3,647 shares in the last quarter. abrdn plc boosted its stake in Cognizant Technology Solutions by 1.4% during the third quarter. abrdn plc now owns 223,082 shares of the information technology service provider’s stock valued at $17,101,000 after buying an additional 3,079 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Cognizant Technology Solutions by 110.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,287 shares of the information technology service provider’s stock valued at $485,000 after buying an additional 3,298 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in Cognizant Technology Solutions by 19.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,571 shares of the information technology service provider’s stock worth $1,510,000 after acquiring an additional 3,139 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $83.99 on Friday. The company has a market capitalization of $41.54 billion, a P/E ratio of 18.62, a P/E/G ratio of 2.11 and a beta of 1.07. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The stock’s fifty day moving average is $81.47 and its two-hundred day moving average is $78.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Analyst Upgrades and Downgrades

CTSH has been the topic of several analyst reports. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays raised their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. BMO Capital Markets lifted their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Finally, Morgan Stanley upped their price objective on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $83.67.

Insider Activity at Cognizant Technology Solutions

In other 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 value of $400,550.00. Following the completion of the transaction, the chief accounting officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

About Cognizant Technology Solutions

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.