Bessemer Group Inc. Has $4.01 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Bessemer Group Inc. cut its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,189 shares of the information technology service provider's stock after selling 10,799 shares during the period. Bessemer Group Inc.'s holdings in Cognizant Technology Solutions were worth $4,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTSH. Norges Bank bought a new position in Cognizant Technology Solutions during the 4th quarter worth about $527,719,000. National Bank of Canada FI raised its position in Cognizant Technology Solutions by 54.6% in the 4th quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider's stock valued at $433,254,000 after buying an additional 1,990,515 shares during the last quarter. Cibc World Market Inc. boosted its position in Cognizant Technology Solutions by 34.0% during the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider's stock worth $214,141,000 after acquiring an additional 705,946 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cognizant Technology Solutions by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock worth $4,539,290,000 after acquiring an additional 515,881 shares in the last quarter. Finally, ING Groep NV raised its holdings in shares of Cognizant Technology Solutions by 17.9% in the fourth quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider's stock valued at $224,694,000 after purchasing an additional 443,536 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CTSH shares. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, March 27th. Royal Bank of Canada reiterated a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. UBS Group decreased their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Barclays increased their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, BMO Capital Markets boosted their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, February 6th. 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 data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus price target of $84.44.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock traded down $0.57 on Friday, hitting $69.44. The stock had a trading volume of 3,091,360 shares, compared to its average volume of 3,609,764. The stock has a market cap of $34.35 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. 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. The business's 50 day moving average is $79.18 and its two-hundred day moving average is $78.88.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.79%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 27.49%.

Cognizant Technology Solutions declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.