Tokio Marine Asset Management Co. Ltd. Buys 273 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,096 shares of the information technology service provider’s stock after buying an additional 273 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. lifted 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 worth $1,196,547,000 after buying an additional 4,365,493 shares during the last quarter. Boston Partners lifted its position in shares of Cognizant Technology Solutions by 3.0% during the 3rd quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after buying an additional 231,782 shares during the last quarter. Northern Trust Corp lifted its position in shares of Cognizant Technology Solutions by 5.0% during the 3rd quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after buying an additional 294,415 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Cognizant Technology Solutions by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,042,016 shares of the information technology service provider’s stock valued at $206,066,000 after purchasing an additional 28,455 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Cognizant Technology Solutions by 3.6% in the third quarter. Stifel Financial Corp now owns 1,680,009 shares of the information technology service provider’s stock valued at $113,804,000 after purchasing an additional 58,422 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays dropped their target price on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday. Mizuho assumed coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price target on the stock. Evercore ISI increased their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Guggenheim assumed coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $76.13.

Insider Buying and Selling

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $66.94 on Friday. The business’s fifty day simple moving average is $73.52 and its 200 day simple moving average is $72.50. The firm has a market capitalization of $33.33 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.06. Cognizant Technology Solutions Co. has a 12 month low of $58.47 and a 12 month high of $80.09. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. Cognizant Technology Solutions’s quarterly 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 anticipate that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a dividend of $0.30 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.57%.

Cognizant Technology Solutions Company 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.