Matthews International Capital Management LLC Purchases 17,134 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Matthews International Capital Management LLC raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 52.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,108 shares of the information technology service provider's stock after acquiring an additional 17,134 shares during the period. Cognizant Technology Solutions makes up 0.8% of Matthews International Capital Management LLC's holdings, making the stock its 26th largest position. Matthews International Capital Management LLC's holdings in Cognizant Technology Solutions were worth $3,853,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CTSH. Assenagon Asset Management S.A. raised its stake in Cognizant Technology Solutions by 276.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider's stock valued at $122,603,000 after acquiring an additional 1,167,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Cognizant Technology Solutions by 146.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider's stock valued at $126,940,000 after buying an additional 978,579 shares in the last quarter. ING Groep NV grew its holdings in shares of Cognizant Technology Solutions by 61.5% during the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider's stock valued at $191,280,000 after buying an additional 943,372 shares in the last quarter. State Street Corp grew its stake in Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider's stock valued at $1,928,405,000 after purchasing an additional 867,176 shares in the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in Cognizant Technology Solutions in the third quarter valued at about $61,744,000. Institutional investors own 92.44% of the company's stock.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company's stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Trading Down 0.2 %

Shares of CTSH stock traded down $0.16 during trading hours on Tuesday, reaching $80.96. The company had a trading volume of 2,555,671 shares, compared to its average volume of 2,656,906. The company has a 50 day moving average of $78.85 and a 200 day moving average of $77.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market cap of $40.14 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 2.06 and a beta of 1.07. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions's payout ratio is presently 26.55%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays upgraded Cognizant Technology Solutions from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. StockNews.com lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Finally, Mizuho increased their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $81.19.

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.