Stevens Capital Management LP Purchases Shares of 10,614 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Stevens Capital Management LP acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,614 shares of the information technology service provider's stock, valued at approximately $816,000.

Several other large investors have also bought and sold shares of the company. Retirement Systems of Alabama lifted its position in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock valued at $91,678,000 after acquiring an additional 40,226 shares during the last quarter. CGN Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at $1,294,000. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Cognizant Technology Solutions by 50.7% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock valued at $33,041,000 after purchasing an additional 144,535 shares during the period. Todd Asset Management LLC increased its stake in Cognizant Technology Solutions by 24.4% in the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock worth $33,568,000 after purchasing an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC raised its holdings in Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock worth $3,853,000 after buying an additional 17,134 shares during the period. Institutional investors own 92.44% of the company's stock.

Remove Ads

Cognizant Technology Solutions Stock Down 0.3 %

Shares of CTSH traded down $0.27 during mid-day trading on Thursday, hitting $77.58. 3,251,593 shares of the company's stock were exchanged, compared to its average volume of 3,383,225. The stock has a market cap of $38.37 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.11 and a beta of 1.12. The firm has a fifty day moving average of $82.72 and a two-hundred day moving average of $79.47. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions declared that its board has approved a share buyback plan on Tuesday, March 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a $0.31 dividend. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday. UBS Group decreased their target price on 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. StockNews.com upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Finally, BMO Capital Markets increased their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $84.56.

About Cognizant Technology Solutions

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.