Holderness Investments Co. Purchases Shares of 2,614 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Holderness Investments Co. acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,614 shares of the information technology service provider’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $28,000. Trust Co. of Vermont grew its stake in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions in the fourth quarter worth approximately $36,000. Spire Wealth Management lifted its stake 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 valued at $37,000 after buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $37,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 1.0 %

NASDAQ:CTSH opened at $76.42 on Friday. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The firm has a 50-day moving average price of $82.66 and a two-hundred day moving average price of $79.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market cap of $37.80 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS 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%. On average, equities analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.62%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. UBS Group dropped their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted 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. Finally, BMO Capital Markets increased their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Fifteen equities 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 currently has a consensus rating of “Hold” and an average price target of $83.71.

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.