Stevens Capital Management LP Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Stevens Capital Management LP bought a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,289 shares of the information technology service provider’s stock, valued at approximately $928,000.

Other institutional investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter worth $26,000. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth about $27,000. Valley National Advisers Inc. raised its position in shares of Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 178 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings 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 acquiring an additional 162 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter worth about $52,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CTSH shares. BMO Capital Markets cut their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday. Guggenheim initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price for the company. Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Finally, Susquehanna reissued a “neutral” rating and issued a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.44.

Cognizant Technology Solutions Stock Down 1.1 %

Cognizant Technology Solutions stock traded down $0.76 during midday trading on Thursday, hitting $66.76. 3,459,826 shares of the company’s stock were exchanged, compared to its average volume of 4,298,709. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25. The company has a market cap of $33.24 billion, a PE ratio of 16.08, a P/E/G ratio of 1.55 and a beta of 1.06. The firm has a 50-day moving average of $73.94 and a two-hundred day moving average of $72.55. Cognizant Technology Solutions Co. has a 12 month low of $58.09 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.14. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. Cognizant Technology Solutions’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.80%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.57%.

Insider Activity

In related news, EVP Kathryn Diaz sold 900 shares of the company’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 value of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

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.