Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 45.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,968 shares of the information technology service provider's stock after purchasing an additional 21,767 shares during the period. Bridgewater Associates LP's holdings in Cognizant Technology Solutions were worth $5,381,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings 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 worth $91,678,000 after purchasing an additional 40,226 shares during the last quarter. CGN Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $1,294,000. ICICI Prudential Asset Management Co Ltd lifted its position in shares of 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 worth $33,041,000 after purchasing an additional 144,535 shares during the last quarter. Todd Asset Management LLC lifted its position in shares of Cognizant Technology Solutions by 24.4% during 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 during the last quarter. Finally, Matthews International Capital Management LLC lifted its position in shares of 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 purchasing an additional 17,134 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock traded up $2.10 on Wednesday, reaching $71.83. 1,047,135 shares of the stock were exchanged, compared to its average volume of 3,584,733. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $78.02 and a two-hundred day moving average price of $78.73. The firm has a market capitalization of $35.53 billion, a PE ratio of 15.93, a PEG ratio of 2.11 and a beta of 1.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly 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, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has approved a stock repurchase plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually 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. Shareholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. 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 1.73%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. UBS Group reduced their price target on shares of 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. 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 report on Thursday, March 27th. Finally, Susquehanna reduced their price target on shares of Cognizant Technology Solutions from $82.00 to $77.00 and set a "neutral" rating for the company in a research report on Wednesday. Fourteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $84.53.

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.