Trust Co. of Toledo NA OH Has $1.54 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Trust Co. of Toledo NA OH cut its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,071 shares of the information technology service provider’s stock after selling 387 shares during the period. Trust Co. of Toledo NA OH’s holdings in Cognizant Technology Solutions were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp lifted its position in 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 valued at $1,928,405,000 after purchasing an additional 867,176 shares during the period. Geode Capital Management LLC lifted its position in Cognizant Technology Solutions by 1.3% during 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 purchasing an additional 173,667 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Cognizant Technology Solutions by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after acquiring an additional 94,209 shares during the period. Legal & General Group Plc raised its position in shares of Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after acquiring an additional 142,225 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Cognizant Technology Solutions by 1.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock valued at $329,452,000 after acquiring an additional 67,017 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTSH. Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho raised their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, December 31st. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $81.19.

Cognizant Technology Solutions Price Performance

CTSH stock traded up $0.52 during midday trading on Monday, reaching $75.84. The company had a trading volume of 341,154 shares, compared to its average volume of 2,216,750. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.07. The stock has a 50 day moving average price of $79.02 and a 200-day moving average price of $76.24. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

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.