Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 70.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,562 shares of the information technology service provider's stock after purchasing an additional 4,776 shares during the period. NewEdge Advisors LLC's holdings in Cognizant Technology Solutions were worth $889,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. Trust Co. of Vermont grew its stake in shares of 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 buying an additional 292 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $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 valued at $37,000 after buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 1.0 %

NASDAQ:CTSH traded up $0.71 during midday trading on Tuesday, hitting $73.29. 3,471,061 shares of the company were exchanged, compared to its average volume of 3,601,952. 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 company has a market capitalization of $36.25 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The company has a fifty day simple moving average of $76.60 and a 200 day simple moving average of $78.64.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating 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, equities 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 share repurchase program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors 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 1.69%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Cognizant Technology Solutions from $92.00 to $81.00 and set a "neutral" rating for the company in a research report on Tuesday. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, March 27th. Susquehanna lowered their price objective 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, April 23rd. BMO Capital Markets increased their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, February 6th. Finally, Barclays decreased their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $83.13.

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.