Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Intrust Bank NA

Intrust Bank NA increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,205 shares of the information technology service provider’s stock after buying an additional 379 shares during the period. Intrust Bank NA’s holdings in Cognizant Technology Solutions were worth $554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTSH. Duncker Streett & Co. Inc. purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Trust Co. of Vermont grew its position in shares of Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at $36,000. Spire Wealth Management lifted its position in Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CTSH shares. Barclays increased their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Morgan Stanley cut their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday. Finally, UBS Group cut their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.56.

Cognizant Technology Solutions Trading Down 2.2 %

NASDAQ:CTSH opened at $75.90 on Friday. The stock has a market cap of $37.54 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The business’s 50-day simple moving average is $82.68 and its 200 day simple moving average is $79.49.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued 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 yield of 1.63%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.