Keystone Investors PTE Ltd. Takes $3.56 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Keystone Investors PTE Ltd. acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 46,230 shares of the information technology service provider's stock, valued at approximately $3,555,000.

Several other large investors have also recently added to or reduced their stakes in the business. Congress Wealth Management LLC DE raised its stake in shares of Cognizant Technology Solutions by 0.5% during 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 purchasing an additional 126 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its position in shares of Cognizant Technology Solutions by 4.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider's stock worth $222,000 after acquiring an additional 127 shares during the period. Graypoint LLC boosted its position in shares of Cognizant Technology Solutions by 2.9% during the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock valued at $369,000 after acquiring an additional 134 shares in the last quarter. Parallel Advisors LLC boosted its stake in Cognizant Technology Solutions by 1.5% in the 4th quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider's stock valued at $704,000 after buying an additional 134 shares in the last quarter. Finally, Sandy Cove Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 3.2% in the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider's stock worth $333,000 after purchasing an additional 135 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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Cognizant Technology Solutions Trading Down 2.2 %

Shares of NASDAQ 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 3,571,263. 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 stock has a market cap of $37.54 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 2.11 and a beta of 1.12. The business has a 50-day simple moving average of $82.68 and a 200-day simple moving average of $79.49. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate 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 approved a share repurchase plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board 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 $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.63%. 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 dividend payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group reduced their price objective on shares of 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. StockNews.com upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Morgan Stanley cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Royal Bank of Canada restated a "sector perform" rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday. Fourteen equities research 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, the stock has a consensus rating of "Hold" and an average target price of $84.56.

Cognizant Technology Solutions Company 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.