Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. decreased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 48.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,469 shares of the information technology service provider's stock after selling 72,243 shares during the period. Comgest Global Investors S.A.S.'s holdings in Cognizant Technology Solutions were worth $5,957,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Retirement Systems of Alabama raised its holdings in Cognizant Technology Solutions by 3.5% during the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock worth $91,678,000 after purchasing an additional 40,226 shares in the last quarter. CGN Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $1,294,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Cognizant Technology Solutions by 50.7% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock valued at $33,041,000 after buying an additional 144,535 shares during the period. Todd Asset Management LLC boosted its stake in Cognizant Technology Solutions by 24.4% during the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock valued at $33,568,000 after buying an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC grew its holdings in Cognizant Technology Solutions by 52.0% during the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock worth $3,853,000 after acquiring an additional 17,134 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 1.0 %

Cognizant Technology Solutions stock opened at $70.17 on Monday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company's fifty day simple moving average is $80.43 and its 200-day simple moving average is $79.09. The stock has a market cap of $34.71 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.11 and a beta of 1.03.

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Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in 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 a sign that the company's leadership believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio is 27.49%.

Wall Street Analyst Weigh In

CTSH has been the subject of several research reports. BMO Capital Markets raised their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a research report on Thursday, February 6th. Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. UBS Group dropped their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Royal Bank of Canada reissued a "sector perform" rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, March 27th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $84.44.

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.

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