APG Asset Management N.V. Boosts Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

APG Asset Management N.V. grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 95.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 525,755 shares of the information technology service provider's stock after purchasing an additional 256,123 shares during the quarter. APG Asset Management N.V. owned about 0.11% of Cognizant Technology Solutions worth $39,044,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Retirement Systems of Alabama grew its position in Cognizant Technology Solutions by 3.5% during the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock worth $91,678,000 after buying an additional 40,226 shares in the last quarter. CGN Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $1,294,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in Cognizant Technology Solutions by 50.7% during 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 last quarter. Todd Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC grew its holdings in shares of Cognizant Technology Solutions by 52.0% during the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock worth $3,853,000 after purchasing an additional 17,134 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTSH shares. Robert W. Baird decreased their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, March 27th. Barclays raised their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. BMO Capital Markets lifted their price target on shares of 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. Finally, Morgan Stanley reduced their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $84.44.

Cognizant Technology Solutions Trading Up 1.0 %

CTSH traded up $0.72 during trading on Monday, reaching $70.89. 807,569 shares of the stock traded hands, compared to its average volume of 3,586,377. The stock's 50-day moving average is $80.43 and its 200 day moving average is $79.09. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $35.06 billion, a PE ratio of 15.72, a P/E/G ratio of 2.11 and a beta of 1.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (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%. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions declared that its board has authorized a share repurchase plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are 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 given a dividend of $0.31 per share. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.75%. Cognizant Technology Solutions's payout ratio is presently 27.49%.

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.