Kensington Investment Counsel LLC Sells 2,686 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kensington Investment Counsel LLC decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 37.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,468 shares of the information technology service provider’s stock after selling 2,686 shares during the quarter. Kensington Investment Counsel LLC’s holdings in Cognizant Technology Solutions were worth $344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CTSH. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $28,000. Trust Co. of Vermont grew its stake in shares of 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. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $36,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring 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 $37,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $80.02 on Tuesday. The stock has a market cap of $39.58 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 2.11 and a beta of 1.12. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The stock’s 50-day moving average is $82.46 and its 200 day moving average is $79.44.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share 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%. On average, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 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 26th. Investors of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.55%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTSH. Morgan Stanley cut their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. UBS Group cut their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.50.

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.