Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Edmp Inc.

Edmp Inc. cut its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.1% in the fourth quarter, HoldingsChannel reports. The fund owned 21,290 shares of the information technology service provider’s stock after selling 913 shares during the period. Cognizant Technology Solutions accounts for approximately 1.6% of Edmp Inc.’s investment portfolio, making the stock its 25th largest holding. Edmp Inc.’s holdings in Cognizant Technology Solutions were worth $1,637,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Addison Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 189 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $30,000. Trust Co. of Vermont boosted its holdings in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after buying an additional 292 shares during the last quarter. Eastern Bank acquired a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $37,000. Finally, Spire Wealth Management boosted its stake in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $86.96 on Tuesday. The stock has a 50-day simple moving average of $79.55 and a 200-day simple moving average of $77.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.23 and a current ratio of 2.09. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $87.61. The stock has a market capitalization of $43.12 billion, a PE ratio of 19.28, a PEG ratio of 2.32 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly 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%. On average, analysts predict that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be issued a $0.31 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.61%.

Analysts Set New Price Targets

CTSH has been the subject of a number of recent research reports. TD Cowen increased their target price 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. Morgan Stanley increased their price objective on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. BMO Capital Markets increased 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. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $83.67.

Insider Transactions at Cognizant Technology Solutions

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

Cognizant Technology Solutions 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.