Bank Julius Baer & Co. Ltd Zurich Buys 3,751 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 77.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,584 shares of the information technology service provider’s stock after acquiring an additional 3,751 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Cognizant Technology Solutions were worth $728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth $1,433,000. Concurrent Investment Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 14.5% in the third quarter. Concurrent Investment Advisors LLC now owns 5,961 shares of the information technology service provider’s stock valued at $460,000 after acquiring an additional 753 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Cognizant Technology Solutions by 5.0% in the third quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider’s stock worth $51,348,000 after acquiring an additional 31,758 shares during the period. CWA Asset Management Group LLC purchased a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $524,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $30,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.9 %

Cognizant Technology Solutions stock opened at $84.00 on Tuesday. The business’s 50-day moving average price is $82.12 and its 200 day moving average price is $79.34. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market cap of $41.55 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data 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 net margin of 11.35% and a return on equity of 16.78%. As a group, sell-side analysts anticipate 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 given a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.48%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTSH. UBS Group lifted their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada boosted 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 report on Thursday, February 6th. Barclays increased their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Finally, Morgan Stanley increased their target price on shares of 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. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock 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.