Nordea Investment Management AB Acquires 2,061 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nordea Investment Management AB lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,651 shares of the information technology service provider’s stock after acquiring an additional 2,061 shares during the period. Nordea Investment Management AB’s holdings in Cognizant Technology Solutions were worth $3,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Addison Advisors LLC increased its holdings in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions during the third quarter worth $30,000. Pinnacle Bancorp Inc. raised its position in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the last quarter. Eastern Bank bought a new position in Cognizant Technology Solutions during the 3rd quarter valued at $37,000. Finally, Benjamin Edwards Inc. boosted its holdings in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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 on 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 transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $75.32 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market capitalization of $37.35 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.24 and a beta of 1.07. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46. The stock’s 50-day simple moving average is $79.02 and its 200 day simple moving average is $76.14.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Cowen raised their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho lifted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.19.

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.