Capital Fund Management S.A. Sells 86,809 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Capital Fund Management S.A. lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 81.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,530 shares of the information technology service provider's stock after selling 86,809 shares during the quarter. Capital Fund Management S.A.'s holdings in Cognizant Technology Solutions were worth $1,502,000 as of its most recent filing with the SEC.

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

Cognizant Technology Solutions Stock Down 0.8 %

Shares of NASDAQ CTSH traded down $0.57 during trading hours on Friday, hitting $69.44. The stock had a trading volume of 3,091,360 shares, compared to its average volume of 3,605,795. The company has a market capitalization of $34.35 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The firm's 50-day moving average price is $78.81 and its two-hundred day moving average price is $78.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

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 earnings per share 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%. Analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared 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 an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.79%. Cognizant Technology Solutions's dividend payout ratio is 27.49%.

Cognizant Technology Solutions declared that its Board of Directors has initiated 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 buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on CTSH shares. Robert W. Baird lowered their price objective 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 raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, March 27th. Finally, UBS Group dropped their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of "Hold" and an average target price of $84.44.

About Cognizant Technology Solutions

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.