Mercer Global Advisors Inc. ADV Raises Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mercer Global Advisors Inc. ADV raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,788 shares of the information technology service provider’s stock after acquiring an additional 9,367 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Cognizant Technology Solutions were worth $12,313,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CTSH. Oppenheimer & Co. Inc. increased its position in Cognizant Technology Solutions by 4.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider’s stock worth $266,000 after purchasing an additional 124 shares in the last quarter. SP Asset Management increased its position in Cognizant Technology Solutions by 0.3% during the 4th quarter. SP Asset Management now owns 47,145 shares of the information technology service provider’s stock worth $4,074,000 after purchasing an additional 135 shares in the last quarter. MV Capital Management Inc. increased its position in Cognizant Technology Solutions by 94.8% during the 4th quarter. MV Capital Management Inc. now owns 302 shares of the information technology service provider’s stock worth $27,000 after purchasing an additional 147 shares in the last quarter. Seascape Capital Management increased its position in Cognizant Technology Solutions by 2.1% during the 4th quarter. Seascape Capital Management now owns 7,704 shares of the information technology service provider’s stock worth $684,000 after purchasing an additional 161 shares in the last quarter. Finally, Creative Planning grew its position in Cognizant Technology Solutions by 0.8% in the third quarter. Creative Planning now owns 21,896 shares of the information technology service provider’s stock valued at $1,625,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 90.15% of the company’s stock.

Several brokerages have issued reports on CTSH. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cognizant Technology Solutions from $81.00 to $92.00 and gave the company a “hold” rating in a research report on Monday, January 24th. Barclays increased their target price on Cognizant Technology Solutions from $78.00 to $85.00 and gave the company an “underweight” rating in a research note on Monday, February 7th. BMO Capital Markets increased their target price on Cognizant Technology Solutions from $92.00 to $100.00 in a research note on Thursday, February 3rd. The Goldman Sachs Group started coverage on Cognizant Technology Solutions in a research note on Sunday, January 9th. They set a “buy” rating and a $104.00 price objective on the stock. Finally, UBS Group upgraded Cognizant Technology Solutions from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $58.50 to $89.00 in a research note on Thursday, January 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $92.13.

In related news, Director Maureen Breakiron-Evans sold 6,371 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $87.76, for a total value of $559,118.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leo S. Jr. Mackay sold 4,778 shares of the business’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $88.52, for a total value of $422,948.56. The disclosure for this sale can be found here. Insiders sold a total of 16,149 shares of company stock valued at $1,434,568 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

NASDAQ:CTSH traded up $0.45 during mid-day trading on Tuesday, reaching $85.06. 10,832 shares of the stock were exchanged, compared to its average volume of 3,061,421. The business has a fifty day moving average price of $88.36 and a 200 day moving average price of $84.47. The firm has a market capitalization of $44.62 billion, a PE ratio of 20.96, a PEG ratio of 1.55 and a beta of 1.10. Cognizant Technology Solutions Co. has a 1-year low of $66.19 and a 1-year high of $93.47. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last released its quarterly earnings results on Wednesday, February 2nd. The information technology service provider reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the company posted $0.67 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Investors of record on Friday, February 18th were given a $0.27 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, February 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.27%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.67%.

Cognizant Technology Solutions Company Profile (Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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