Louisbourg Investments Inc. Purchases 11,010 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Louisbourg Investments Inc. boosted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,031 shares of the information technology service provider’s stock after acquiring an additional 11,010 shares during the quarter. Cognizant Technology Solutions accounts for 1.3% of Louisbourg Investments Inc.’s holdings, making the stock its 26th largest holding. Louisbourg Investments Inc.’s holdings in Cognizant Technology Solutions were worth $5,385,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTSH. State Street Corp increased 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 worth $1,928,405,000 after purchasing an additional 867,176 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cognizant Technology Solutions by 1.3% during the third quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after buying an additional 173,667 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock worth $250,428,000 after buying an additional 44,129 shares in the last quarter. Cibc World Market Inc. lifted its stake in shares of Cognizant Technology Solutions by 34.0% in the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock valued at $214,141,000 after acquiring an additional 705,946 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Cognizant Technology Solutions by 29.7% during the 3rd quarter. Bank of Montreal Can now owns 2,748,982 shares of the information technology service provider’s stock valued at $211,369,000 after acquiring an additional 628,970 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Royal Bank of Canada raised their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $83.67.

Insider Buying and Selling at Cognizant Technology Solutions

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

Cognizant Technology Solutions Price Performance

CTSH stock opened at $87.87 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.23. The company’s 50-day moving average is $79.83 and its 200-day moving average is $77.84. The stock has a market capitalization of $43.57 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $88.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect that Cognizant Technology Solutions Co. will post 4.99 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.41%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.61%.

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.