Flossbach Von Storch AG Has $16.38 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Flossbach Von Storch AG lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,908 shares of the information technology service provider’s stock after purchasing an additional 18,688 shares during the quarter. Flossbach Von Storch AG’s holdings in Cognizant Technology Solutions were worth $16,383,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CTSH. Norges Bank acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth about $374,413,000. JPMorgan Chase & Co. raised its position in shares of Cognizant Technology Solutions by 84.6% during the first quarter. JPMorgan Chase & Co. now owns 13,148,963 shares of the information technology service provider’s stock worth $801,166,000 after purchasing an additional 6,027,057 shares during the period. Lazard Asset Management LLC raised its position in shares of Cognizant Technology Solutions by 53.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,551,475 shares of the information technology service provider’s stock worth $203,107,000 after purchasing an additional 1,236,165 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth about $53,176,000. Finally, Assenagon Asset Management S.A. raised its position in Cognizant Technology Solutions by 110.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock valued at $91,082,000 after buying an additional 704,932 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded down $0.39 during midday trading on Wednesday, hitting $67.54. 2,538,661 shares of the company’s stock were exchanged, compared to its average volume of 4,335,394. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12 month low of $58.09 and a 12 month high of $80.09. The company’s 50 day moving average price is $74.87 and its 200 day moving average price is $72.55. The firm has a market capitalization of $33.62 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.14. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued 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 annualized dividend and a yield of 1.78%. Cognizant Technology Solutions’s payout ratio is currently 28.57%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the topic of a number of recent research reports. BMO Capital Markets dropped their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th. Mizuho initiated coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price on the stock. Citigroup lifted their target price on Cognizant Technology Solutions from $76.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Susquehanna restated a “neutral” rating and issued a $80.00 price target (down from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. Finally, Wedbush raised their price target on Cognizant Technology Solutions from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $75.65.

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.