Sei Investments Co. Increases Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sei Investments Co. increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 591,352 shares of the information technology service provider's stock after acquiring an additional 36,044 shares during the period. Sei Investments Co. owned approximately 0.12% of Cognizant Technology Solutions worth $45,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. Duncker Streett & Co. Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $28,000. Trust Co. of Vermont raised its position in shares of Cognizant Technology Solutions by 188.4% during the 4th 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 worth about $36,000. Spire Wealth Management lifted its holdings in Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after purchasing an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $37,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CTSH shares. Mizuho upgraded Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. BMO Capital Markets upped their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, February 6th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday. Finally, UBS Group reduced their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of "Hold" and an average price target of $84.56.

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Cognizant Technology Solutions Stock Performance

Shares of CTSH traded down $1.68 during trading hours on Friday, hitting $75.90. The company's stock had a trading volume of 3,781,676 shares, compared to its average volume of 3,571,265. The company has a market cap of $37.54 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 2.11 and a beta of 1.12. The business has a 50 day simple moving average of $82.72 and a two-hundred day simple moving average of $79.47. 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 current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS 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%. On average, equities analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its board 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 repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. 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%.

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.