US Bancorp DE Has $6.14 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

US Bancorp DE trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,781 shares of the information technology service provider’s stock after selling 1,798 shares during the quarter. US Bancorp DE’s holdings in Cognizant Technology Solutions were worth $6,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 127.7% in 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 acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $30,000. Trust Co. of Vermont increased its stake in 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 acquiring an additional 292 shares during the period. Spire Wealth Management raised its position in 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 purchasing an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $37,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $83.74 on Wednesday. The company has a 50 day moving average price of $81.73 and a 200 day moving average price of $79.12. 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 stock has a market capitalization of $41.42 billion, a PE ratio of 18.57, a price-to-earnings-growth 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%. Analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTSH. Barclays upped their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Morgan Stanley upped their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. BMO Capital Markets lifted their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Finally, Royal Bank of Canada increased their target price 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. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.