Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Horizon Investments LLC

Horizon Investments LLC increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 405.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,393 shares of the information technology service provider’s stock after purchasing an additional 27,587 shares during the quarter. Horizon Investments LLC’s holdings in Cognizant Technology Solutions were worth $2,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp increased its position in shares of Cognizant Technology Solutions by 3.6% during the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after purchasing an additional 867,176 shares during the last quarter. Geode Capital Management LLC grew its position in Cognizant Technology Solutions by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock valued at $1,022,728,000 after acquiring an additional 173,667 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Cognizant Technology Solutions by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,348,102 shares of the information technology service provider’s stock valued at $257,469,000 after acquiring an additional 103,371 shares in the last quarter. Cibc World Markets Corp grew its position in Cognizant Technology Solutions by 0.4% in the 4th quarter. Cibc World Markets Corp now owns 2,929,239 shares of the information technology service provider’s stock valued at $225,258,000 after acquiring an additional 11,024 shares in the last quarter. Finally, ING Groep NV grew its position in Cognizant Technology Solutions by 17.9% in the 4th quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider’s stock valued at $224,694,000 after acquiring an additional 443,536 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $79.58 on Wednesday. The business has a 50 day moving average price of $82.54 and a 200 day moving average price of $79.46. The stock has a market cap of $39.36 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued 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%. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share 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. Shareholders of record on Tuesday, February 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.56%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Analyst Ratings Changes

Several research firms have weighed in on CTSH. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. UBS Group dropped their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Barclays lifted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Morgan Stanley decreased their price objective 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. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $83.50.

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.