Bryn Mawr Capital Management LLC Increases Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bryn Mawr Capital Management LLC lifted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 97.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,688 shares of the information technology service provider’s stock after buying an additional 2,813 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. ICICI Prudential Asset Management Co Ltd increased its position in shares of Cognizant Technology Solutions by 50.7% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock valued at $33,041,000 after buying an additional 144,535 shares during the period. Morton Brown Family Wealth LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $37,000. Kestra Investment Management LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $49,000. Atria Wealth Solutions Inc. increased its position in shares of Cognizant Technology Solutions by 136.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,504 shares of the information technology service provider’s stock valued at $577,000 after buying an additional 4,335 shares during the period. Finally, Venturi Wealth Management LLC increased its position in shares of Cognizant Technology Solutions by 85.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the information technology service provider’s stock valued at $48,000 after buying an additional 286 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 3.1 %

Shares of Cognizant Technology Solutions stock opened at $84.82 on Friday. The company has a market cap of $42.05 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.07. The company’s 50 day moving average is $81.11 and its 200 day moving average is $78.57. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. 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 (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be given a dividend of $0.31 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.46%. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the 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 transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

CTSH has been the topic of several research analyst reports. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Mizuho upped their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.67.

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.