BI Asset Management Fondsmaeglerselskab A S Has $3.31 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 332.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,038 shares of the information technology service provider's stock after buying an additional 33,084 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Cognizant Technology Solutions were worth $3,310,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Duncker Streett & Co. Inc. bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Trust Co. of Vermont lifted its holdings in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock valued at $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $36,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. 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 report on Tuesday, April 8th. StockNews.com upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. Finally, Barclays boosted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $84.53.

Cognizant Technology Solutions Stock Performance

CTSH traded up $1.32 during midday trading on Wednesday, reaching $71.05. The company's stock had a trading volume of 4,969,628 shares, compared to its average volume of 3,603,015. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The stock has a market cap of $35.14 billion, a P/E ratio of 15.75, a PEG ratio of 2.11 and a beta of 1.03. The company has a fifty day simple moving average of $77.62 and a 200 day simple moving average of $78.68. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

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%. Research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.75%. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 27.49%.

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

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.