Integrated Wealth Concepts LLC Acquires 6,145 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Integrated Wealth Concepts LLC grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,469 shares of the information technology service provider's stock after acquiring an additional 6,145 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Cognizant Technology Solutions were worth $3,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $527,719,000. National Bank of Canada FI increased its holdings in shares of Cognizant Technology Solutions by 54.6% during the fourth quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider's stock worth $433,254,000 after buying an additional 1,990,515 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Cognizant Technology Solutions by 98.9% in the 4th quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock valued at $210,894,000 after acquiring an additional 1,363,570 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of Cognizant Technology Solutions by 34.0% during the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider's stock valued at $214,141,000 after acquiring an additional 705,946 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Cognizant Technology Solutions by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock worth $4,539,290,000 after acquiring an additional 515,881 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 1.0 %

NASDAQ:CTSH traded up $0.71 during trading hours on Tuesday, reaching $73.29. The company had a trading volume of 3,471,061 shares, compared to its average volume of 3,595,867. The business's 50-day simple moving average is $76.60 and its two-hundred day simple moving average is $78.64. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 2.11 and a beta of 1.03. 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 (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, equities analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions declared that its board has initiated a share buyback program on Tuesday, March 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's payout ratio is 27.49%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, March 27th. BMO Capital Markets boosted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird lowered their target price on 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. Fifteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of "Hold" and an average target price of $83.13.

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.