Swiss National Bank Has $107.68 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Swiss National Bank lessened its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,400,300 shares of the information technology service provider’s stock after selling 75,700 shares during the quarter. Swiss National Bank’s holdings in Cognizant Technology Solutions were worth $107,683,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $30,000. Trust Co. of Vermont increased its holdings in shares of Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Finally, Spire Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 74.7% during the 4th 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. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 1.0 %

NASDAQ CTSH opened at $79.12 on Friday. The business has a 50 day simple moving average of $82.38 and a 200 day simple moving average of $79.39. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The stock has a market capitalization of $39.13 billion, a P/E ratio of 17.54, a P/E/G ratio of 2.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 27.49%.

Analyst Ratings Changes

CTSH has been the topic of a number of research reports. BMO Capital Markets upped 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. Barclays upped 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. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Finally, UBS Group upped their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.39.

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.