Candriam S.C.A. Raises Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Candriam S.C.A. grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,818 shares of the information technology service provider’s stock after acquiring an additional 2,093 shares during the quarter. Candriam S.C.A.’s holdings in Cognizant Technology Solutions were worth $2,908,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in Cognizant Technology Solutions by 146.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock worth $126,940,000 after purchasing an additional 978,579 shares during the period. ING Groep NV grew its stake in shares of Cognizant Technology Solutions by 61.5% during the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after buying an additional 943,372 shares during the last quarter. State Street Corp increased its holdings in shares of Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after buying an additional 867,176 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $61,744,000. Finally, Cibc World Market Inc. boosted its holdings in Cognizant Technology Solutions by 34.0% during 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 period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of analyst reports. BMO Capital Markets lifted their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Morgan Stanley boosted their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada raised their price target 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.67.

Cognizant Technology Solutions Price Performance

CTSH opened at $83.23 on Monday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The stock has a 50-day moving average price of $81.98 and a 200-day moving average price of $79.28. The firm has a market cap of $41.17 billion, a PE ratio of 18.45, a P/E/G ratio of 2.11 and a beta of 1.12. 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 issued its 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 net margin of 11.35% and a return on equity of 16.78%. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

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.