Linscomb Wealth Inc. Buys 1,667 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Linscomb Wealth Inc. raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 28,391 shares of the information technology service provider’s stock after purchasing an additional 1,667 shares during the quarter. Linscomb Wealth Inc.’s holdings in Cognizant Technology Solutions were worth $2,183,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions in the third quarter valued at $1,972,000. Wealth Enhancement Advisory Services LLC increased its holdings in Cognizant Technology Solutions by 8.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,134 shares of the information technology service provider’s stock valued at $3,561,000 after buying an additional 3,647 shares during the period. abrdn plc raised its stake in shares of Cognizant Technology Solutions by 1.4% in the 3rd 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 in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Cognizant Technology Solutions by 19.1% during 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 period. Finally, Farther Finance Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 6.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,443 shares of the information technology service provider’s stock valued at $343,000 after acquiring an additional 271 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling

In other Cognizant Technology Solutions 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $83.35 on Friday. The firm has a 50 day simple moving average of $81.55 and a 200 day simple moving average of $78.95. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $41.23 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.11 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping 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%. 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 firm 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 boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.49%. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Analysts Set New Price Targets

CTSH has been the subject of a number of analyst reports. Mizuho raised their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. BMO Capital Markets boosted their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. UBS Group increased their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Barclays lifted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.67.

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.