American Century Companies Inc. Has $128.40 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

American Century Companies Inc. raised its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,669,690 shares of the information technology service provider's stock after purchasing an additional 27,037 shares during the period. American Century Companies Inc. owned 0.34% of Cognizant Technology Solutions worth $128,399,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sound View Wealth Advisors Group LLC raised its position in shares of Cognizant Technology Solutions by 4.6% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider's stock valued at $222,000 after purchasing an additional 127 shares during the period. Graypoint LLC raised its holdings in Cognizant Technology Solutions by 2.9% in the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock worth $369,000 after acquiring an additional 134 shares during the period. Parallel Advisors LLC boosted its holdings in Cognizant Technology Solutions by 1.5% during the fourth quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider's stock valued at $704,000 after acquiring an additional 134 shares during the period. Sandy Cove Advisors LLC grew its position in shares of Cognizant Technology Solutions by 3.2% in the fourth quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider's stock valued at $333,000 after purchasing an additional 135 shares during the last quarter. Finally, Argent Advisors Inc. lifted its position in shares of Cognizant Technology Solutions by 1.2% during the 4th quarter. Argent Advisors Inc. now owns 12,607 shares of the information technology service provider's stock worth $969,000 after purchasing an additional 151 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group reduced their price objective 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. Morgan Stanley decreased their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday. Barclays increased their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $84.56.

Cognizant Technology Solutions Trading Down 0.3 %

CTSH traded down $0.27 during mid-day trading on Thursday, reaching $77.58. The stock had a trading volume of 3,251,593 shares, compared to its average volume of 3,381,224. The stock has a market capitalization of $38.37 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. 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 firm's fifty day simple moving average is $82.72 and its two-hundred day simple moving average is $79.48.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

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 paid a $0.31 dividend. This is a positive change 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 1.60%. Cognizant Technology Solutions's dividend payout ratio is presently 27.49%.

Cognizant Technology Solutions announced that its Board of Directors has approved a share repurchase plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

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.