Lindbrook Capital LLC Purchases 318 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Lindbrook Capital LLC increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,468 shares of the information technology service provider’s stock after purchasing an additional 318 shares during the quarter. Lindbrook Capital LLC’s holdings in Cognizant Technology Solutions were worth $111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. abrdn plc boosted its position in Cognizant Technology Solutions by 60.6% during the 4th quarter. abrdn plc now owns 257,553 shares of the information technology service provider’s stock valued at $19,453,000 after acquiring an additional 97,134 shares in the last quarter. Greenleaf Trust boosted its position in Cognizant Technology Solutions by 18.4% during the 4th quarter. Greenleaf Trust now owns 5,757 shares of the information technology service provider’s stock valued at $435,000 after acquiring an additional 896 shares in the last quarter. Xponance Inc. boosted its position in Cognizant Technology Solutions by 1.6% during the 4th quarter. Xponance Inc. now owns 65,261 shares of the information technology service provider’s stock valued at $4,929,000 after acquiring an additional 1,010 shares in the last quarter. Flossbach Von Storch AG boosted its position in Cognizant Technology Solutions by 9.4% during the 4th quarter. Flossbach Von Storch AG now owns 216,908 shares of the information technology service provider’s stock valued at $16,383,000 after acquiring an additional 18,688 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Cognizant Technology Solutions by 2.6% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 16,995 shares of the information technology service provider’s stock valued at $1,284,000 after purchasing an additional 435 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $67.77 on Wednesday. Cognizant Technology Solutions Co. has a 52 week low of $58.09 and a 52 week high of $80.09. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $33.74 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. The stock’s 50-day moving average price is $74.13 and its 200-day moving average price is $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the firm earned $1.01 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts expect that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.77%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. Cognizant Technology Solutions’s payout ratio is presently 28.57%.

Insider Buying and Selling

In related news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTSH. Wedbush increased their price objective on Cognizant Technology Solutions from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, December 26th. Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Societe Generale reiterated a “sell” rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. BMO Capital Markets reduced their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Finally, Evercore ISI raised their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $76.44.

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.