Cambridge Trust Co. Has $36,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cambridge Trust Co. lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 66.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 480 shares of the information technology service provider’s stock after selling 935 shares during the period. Cambridge Trust Co.’s holdings in Cognizant Technology Solutions were worth $36,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CTSH. State Street Corp boosted its position in shares of Cognizant Technology Solutions by 2.2% in the first quarter. State Street Corp now owns 22,415,954 shares of the information technology service provider’s stock valued at $1,365,793,000 after acquiring an additional 473,809 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cognizant Technology Solutions by 32.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after acquiring an additional 4,365,493 shares in the last quarter. Geode Capital Management LLC increased its stake in Cognizant Technology Solutions by 1.0% in the first quarter. Geode Capital Management LLC now owns 9,710,353 shares of the information technology service provider’s stock valued at $590,394,000 after acquiring an additional 93,518 shares during the period. Boston Partners raised its position in Cognizant Technology Solutions by 3.0% in the third quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after purchasing an additional 231,782 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Cognizant Technology Solutions by 6.0% during the first quarter. Macquarie Group Ltd. now owns 7,461,555 shares of the information technology service provider’s stock worth $454,633,000 after purchasing an additional 424,988 shares during the period. Institutional investors own 92.44% of the company’s stock.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CTSH shares. Royal Bank of Canada increased their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Societe Generale reaffirmed a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Wedbush increased their target price on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 26th. Barclays boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 23rd. Finally, Mizuho initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $76.94.

Cognizant Technology Solutions Stock Up 0.5 %

Shares of NASDAQ:CTSH opened at $67.44 on Friday. The company has a 50 day moving average of $74.45 and a 200-day moving average of $72.51. Cognizant Technology Solutions Co. has a one year low of $58.09 and a one year high of $80.09. The stock has a market cap of $33.57 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were paid a $0.30 dividend. The ex-dividend date was Friday, February 16th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. Cognizant Technology Solutions’s dividend payout ratio is 28.57%.

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.