Guggenheim Capital LLC Has $11.35 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Guggenheim Capital LLC trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,533 shares of the information technology service provider's stock after selling 23,608 shares during the period. Guggenheim Capital LLC's holdings in Cognizant Technology Solutions were worth $11,345,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Unison Advisors LLC boosted its holdings in Cognizant Technology Solutions by 0.4% during the fourth quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider's stock worth $2,276,000 after buying an additional 114 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in shares of Cognizant Technology Solutions by 0.5% in the 4th quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider's stock worth $1,920,000 after buying an additional 126 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its holdings in Cognizant Technology Solutions by 4.6% during the 4th 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 acquiring an additional 127 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock valued at $369,000 after purchasing an additional 134 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Cognizant Technology Solutions by 1.5% during the 4th quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider's stock worth $704,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CTSH shares. Barclays upped their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. 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 note on Monday, March 17th. Robert W. Baird dropped their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $84.44.

Cognizant Technology Solutions Trading Up 1.6 %

CTSH traded up $1.10 during trading on Tuesday, reaching $69.16. The company had a trading volume of 402,625 shares, compared to its average volume of 3,582,559. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The firm's 50-day simple moving average is $78.41 and its 200 day simple moving average is $78.80. 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 company has a market cap of $34.21 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.11 and a beta of 1.03.

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 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%. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.79%. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's 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.