Fox Run Management L.L.C. Acquires 23,568 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Fox Run Management L.L.C. boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 452.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 28,779 shares of the information technology service provider's stock after buying an additional 23,568 shares during the period. Cognizant Technology Solutions makes up approximately 0.4% of Fox Run Management L.L.C.'s holdings, making the stock its 7th largest holding. Fox Run Management L.L.C.'s holdings in Cognizant Technology Solutions were worth $2,213,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its holdings in shares of Cognizant Technology Solutions by 17.8% in the third quarter. Thrivent Financial for Lutherans now owns 25,931 shares of the information technology service provider's stock worth $2,001,000 after buying an additional 3,917 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Cognizant Technology Solutions in the third quarter worth $1,403,000. PNC Financial Services Group Inc. increased its stake in Cognizant Technology Solutions by 5.9% in the third quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider's stock worth $9,228,000 after purchasing an additional 6,626 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cognizant Technology Solutions in the 3rd quarter worth about $734,000. Finally, First Horizon Advisors Inc. lifted its holdings in Cognizant Technology Solutions by 5.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 5,638 shares of the information technology service provider's stock valued at $435,000 after buying an additional 269 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. UBS Group lowered their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Barclays raised their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Mizuho upgraded Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets increased 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. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $83.71.

Cognizant Technology Solutions Stock Performance

CTSH stock traded up $1.65 during trading on Tuesday, reaching $79.59. The company had a trading volume of 2,093,482 shares, compared to its average volume of 3,384,308. The company has a market cap of $39.37 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month 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 has a 50-day simple moving average of $82.68 and a 200-day simple moving average of $79.47.

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, topping 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%. As a group, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.56%. Cognizant Technology Solutions's dividend payout ratio is currently 27.49%.

About Cognizant Technology Solutions

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.