Cairn Investment Group Inc. Boosts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cairn Investment Group Inc. increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,583 shares of the information technology service provider’s stock after buying an additional 480 shares during the period. Cognizant Technology Solutions accounts for about 2.5% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 13th biggest position. Cairn Investment Group Inc.’s holdings in Cognizant Technology Solutions were worth $4,197,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Graypoint LLC raised its position in Cognizant Technology Solutions by 2.9% during the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after purchasing an additional 134 shares during the period. Sandy Cove Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 3.2% in the fourth quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after buying an additional 135 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the period. Ritholtz Wealth Management raised its holdings in shares of Cognizant Technology Solutions by 2.1% in the fourth quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock worth $669,000 after buying an additional 183 shares during the period. Finally, Addison Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $81.19 on Thursday. The firm has a market capitalization of $40.26 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The business has a fifty day moving average of $78.94 and a 200 day moving average of $77.11. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping 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 return on equity of 17.08% and a net margin of 11.60%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

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.