M&T Bank Corp lowered its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 142,334 shares of the information technology service provider’s stock after selling 1,820 shares during the period. M&T Bank Corp’s holdings in Cognizant Technology Solutions were worth $10,108,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Icon Advisers Inc. Co. boosted its stake in Cognizant Technology Solutions by 148.7% during the 4th quarter. Icon Advisers Inc. Co. now owns 169,871 shares of the information technology service provider’s stock valued at $12,064,000 after purchasing an additional 101,571 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Cognizant Technology Solutions by 5.8% in the 4th quarter. Teacher Retirement System of Texas now owns 486,482 shares of the information technology service provider’s stock worth $34,550,000 after buying an additional 26,691 shares during the last quarter. ING Groep NV boosted its stake in shares of Cognizant Technology Solutions by 39.8% in the 4th quarter. ING Groep NV now owns 140,747 shares of the information technology service provider’s stock worth $9,996,000 after buying an additional 40,066 shares during the last quarter. BT Investment Management Ltd boosted its stake in shares of Cognizant Technology Solutions by 21.1% in the 4th quarter. BT Investment Management Ltd now owns 1,201,369 shares of the information technology service provider’s stock worth $85,321,000 after buying an additional 209,023 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Cognizant Technology Solutions by 0.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,043 shares of the information technology service provider’s stock worth $6,371,000 after buying an additional 743 shares during the last quarter. Institutional investors and hedge funds own 86.87% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (CTSH) opened at $76.29 on Monday. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. The company has a market cap of $44,984.02, a P/E ratio of 30.15, a P/E/G ratio of 1.53 and a beta of 1.11. Cognizant Technology Solutions Corp has a 1-year low of $57.00 and a 1-year high of $79.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. Cognizant Technology Solutions’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. analysts expect that Cognizant Technology Solutions Corp will post 3.97 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Wednesday, February 21st. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s payout ratio is 23.72%.

In other Cognizant Technology Solutions news, insider Sumithra Gomatam sold 2,625 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $76.00, for a total transaction of $199,500.00. Following the sale, the insider now owns 40,979 shares of the company’s stock, valued at approximately $3,114,404. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Debashis Chatterjee sold 1,726 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $79.00, for a total transaction of $136,354.00. Following the sale, the insider now directly owns 39,253 shares in the company, valued at approximately $3,100,987. The disclosure for this sale can be found here. Insiders sold a total of 994,079 shares of company stock worth $73,129,749 in the last ninety days. 1.08% of the stock is currently owned by insiders.

CTSH has been the topic of a number of research analyst reports. SunTrust Banks restated a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Credit Suisse Group restated an “outperform” rating and issued a $89.00 target price (up previously from $80.00) on shares of Cognizant Technology Solutions in a research note on Thursday, November 2nd. Citigroup boosted their target price on Cognizant Technology Solutions from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. BidaskClub upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Finally, Morgan Stanley boosted their target price on Cognizant Technology Solutions from $77.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $84.21.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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