National Bank of Canada FI Purchases 401,076 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

National Bank of Canada FI raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,769,110 shares of the information technology service provider’s stock after buying an additional 401,076 shares during the period. Cognizant Technology Solutions comprises approximately 0.6% of National Bank of Canada FI’s holdings, making the stock its 29th largest holding. National Bank of Canada FI owned about 0.95% of Cognizant Technology Solutions worth $354,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in shares of Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Cognizant Technology Solutions by 8.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 198,317 shares of the information technology service provider’s stock valued at $13,434,000 after purchasing an additional 15,441 shares during the period. Raymond James & Associates lifted its stake in shares of Cognizant Technology Solutions by 1.0% in the 3rd quarter. Raymond James & Associates now owns 434,244 shares of the information technology service provider’s stock valued at $29,416,000 after purchasing an additional 4,092 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Cognizant Technology Solutions by 8.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,932 shares of the information technology service provider’s stock valued at $2,637,000 after purchasing an additional 3,088 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of Cognizant Technology Solutions by 6.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,322 shares of the information technology service provider’s stock valued at $225,000 after purchasing an additional 205 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CTSH. Royal Bank of Canada increased their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their price target for the stock from $70.00 to $85.00 in a research report on Thursday, January 11th. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Susquehanna lowered their price objective on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.63.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded down $0.02 on Friday, hitting $66.25. 7,399,746 shares of the stock were exchanged, compared to its average volume of 3,943,487. The company has a market capitalization of $32.98 billion, a PE ratio of 15.93, a P/E/G ratio of 1.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.25. The business’s fifty day moving average is $72.31 and its 200 day moving average is $72.46. Cognizant Technology Solutions Co. has a 52 week low of $60.26 and a 52 week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 EPS. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.27% of the company’s stock.

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.