APG Asset Management US Inc. Acquires Shares of 15,603 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

APG Asset Management US Inc. acquired a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,603 shares of the information technology service provider's stock, valued at approximately $1,200,000.

A number of other hedge funds also recently bought and sold shares of CTSH. Raymond James Financial Inc. acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $27,114,000. Martingale Asset Management L P acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $5,996,000. APG Asset Management N.V. lifted its position in shares of Cognizant Technology Solutions by 95.0% during the 4th quarter. APG Asset Management N.V. now owns 525,755 shares of the information technology service provider's stock valued at $39,044,000 after acquiring an additional 256,123 shares during the period. Shelton Capital Management increased its position in shares of Cognizant Technology Solutions by 2.8% in the fourth quarter. Shelton Capital Management now owns 328,955 shares of the information technology service provider's stock valued at $25,297,000 after buying an additional 8,835 shares in the last quarter. Finally, Twin Capital Management Inc. lifted its holdings in shares of Cognizant Technology Solutions by 4.5% in the fourth quarter. Twin Capital Management Inc. now owns 35,271 shares of the information technology service provider's stock valued at $2,712,000 after purchasing an additional 1,533 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 0.4 %

CTSH stock traded up $0.27 during mid-day trading on Monday, reaching $70.44. The company had a trading volume of 871,659 shares, compared to its average volume of 3,587,026. The stock has a 50 day simple moving average of $80.43 and a two-hundred day simple moving average of $79.09. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The company has a market capitalization of $34.84 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 2.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

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

Cognizant Technology Solutions declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's payout ratio is currently 27.49%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets increased their price target on shares of 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. Barclays raised their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Robert W. Baird lowered their target price on Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley lowered their price objective on shares of 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. Finally, StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $84.44.

Cognizant Technology Solutions Company 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.