Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Cairn Investment Group Inc.

Cairn Investment Group Inc. raised its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,537 shares of the information technology service provider’s stock after acquiring an additional 2,655 shares during the period. Cognizant Technology Solutions accounts for about 2.1% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 15th biggest holding. Cairn Investment Group Inc.’s holdings in Cognizant Technology Solutions were worth $2,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CTSH. D.A. Davidson & CO. acquired a new position in Cognizant Technology Solutions in the first quarter valued at approximately $256,000. Canada Pension Plan Investment Board boosted its position in shares of Cognizant Technology Solutions by 84.4% during the first quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock worth $24,140,000 after buying an additional 123,220 shares during the period. Cetera Investment Advisers grew its holdings in Cognizant Technology Solutions by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock worth $1,594,000 after buying an additional 1,523 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Cognizant Technology Solutions in the 1st quarter valued at approximately $239,000. Finally, Brighton Jones LLC raised its stake in Cognizant Technology Solutions by 18.7% during the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock valued at $312,000 after acquiring an additional 550 shares in the last quarter. 90.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CTSH shares. TheStreet raised Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a report on Tuesday, January 31st. Morgan Stanley lowered their price target on Cognizant Technology Solutions from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, February 3rd. UBS Group raised their price target on Cognizant Technology Solutions from $62.00 to $68.00 in a report on Sunday, January 15th. Robert W. Baird lowered Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and raised their price target for the company from $66.00 to $68.00 in a report on Friday, February 3rd. Finally, Susquehanna lowered their price target on Cognizant Technology Solutions from $93.00 to $91.00 and set a “positive” rating on the stock in a report on Friday, February 3rd. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.90.

Cognizant Technology Solutions Trading Down 1.0 %

NASDAQ:CTSH opened at $57.79 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 1-year low of $51.33 and a 1-year high of $93.47. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. The stock has a fifty day simple moving average of $63.77 and a 200 day simple moving average of $60.89.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information technology service provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01. Cognizant Technology Solutions had a return on equity of 18.92% and a net margin of 11.79%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the company posted $1.10 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.46 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Friday, February 17th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 2.01%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.24%.

About Cognizant Technology Solutions

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Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.