Capital Research Global Investors Buys 1,363,570 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Capital Research Global Investors lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 98.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,742,442 shares of the information technology service provider's stock after acquiring an additional 1,363,570 shares during the period. Capital Research Global Investors owned 0.55% of Cognizant Technology Solutions worth $210,894,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CTSH. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Trust Co. of Vermont lifted its holdings 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 worth $34,000 after purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Spire Wealth Management increased its stake in Cognizant Technology Solutions by 74.7% during 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 during the period. Finally, Morton Brown Family Wealth LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 1.9 %

Shares of Cognizant Technology Solutions stock traded up $1.32 during trading on Wednesday, hitting $71.05. 4,969,628 shares of the stock traded hands, compared to its average volume of 3,603,015. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. 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. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The company has a fifty day moving average price of $77.62 and a two-hundred day moving average price of $78.68.

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, 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%. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

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 repurchase 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders 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 yield of 1.75%. This is a boost 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 is 27.49%.

Analysts Set New Price Targets

A number of research firms have weighed in on CTSH. UBS Group cut their target price on 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. Susquehanna lowered their target price on Cognizant Technology Solutions from $82.00 to $77.00 and set a "neutral" rating on the stock in a report on Wednesday. Robert W. Baird cut their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of "Hold" and an average price target of $84.53.

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.