Peregrine Asset Advisers Inc. Has $215,000 Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Peregrine Asset Advisers Inc. decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,800 shares of the information technology service provider’s stock after selling 360 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Cognizant Technology Solutions were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC grew its position in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the period. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions in the third quarter valued at approximately $30,000. Trust Co. of Vermont grew its holdings in 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 period. Eastern Bank acquired a new stake in Cognizant Technology Solutions during the 3rd quarter worth $37,000. Finally, Spire Wealth Management lifted its stake in shares of Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

CTSH opened at $84.82 on Friday. The company has a market capitalization of $42.05 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 2.13 and a beta of 1.07. The business’s 50-day moving average price is $81.11 and its two-hundred day moving average price is $78.57. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. 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 announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.46%. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Analyst Ratings Changes

Several research firms have recently issued reports on CTSH. BMO Capital Markets raised their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report 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 stock a “sector perform” rating in a research report on Thursday, February 6th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price objective on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Mizuho upped their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.67.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Company 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.