Envestnet Portfolio Solutions Inc. Has $1.09 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,111 shares of the information technology service provider’s stock after selling 1,147 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Cognizant Technology Solutions were worth $1,085,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions in the fourth quarter worth approximately $28,000. Trust Co. of Vermont boosted its holdings in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $36,000. Spire Wealth Management raised its holdings in Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $37,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 1.0 %

Shares of CTSH stock opened at $76.42 on Friday. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a fifty day moving average price of $82.66 and a 200 day moving average price of $79.45. The stock has a market cap of $37.80 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.62%. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CTSH shares. BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Barclays lifted their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. UBS Group cut their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.71.

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.