Mirabella Financial Services LLP Buys New Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mirabella Financial Services LLP purchased a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,400 shares of the information technology service provider's stock, valued at approximately $723,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tudor Financial Inc. acquired a new position in shares of Cognizant Technology Solutions during the third quarter worth $225,000. World Investment Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 21.8% during the 3rd quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider's stock worth $435,000 after acquiring an additional 1,010 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth about $155,000. Retirement Systems of Alabama raised its position in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock worth $91,678,000 after acquiring an additional 40,226 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Cognizant Technology Solutions by 5.0% during the third quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider's stock worth $51,348,000 after purchasing an additional 31,758 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded up $1.32 on Wednesday, hitting $71.05. 4,969,628 shares of the company's stock were exchanged, compared to its average volume of 3,603,015. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The firm's 50-day moving average price is $77.62 and its two-hundred day moving average price is $78.68. The firm has a market cap of $35.14 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) 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%. On average, research analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company 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 is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.75%. Cognizant Technology Solutions's payout ratio is 27.49%.

Cognizant Technology Solutions announced that its board has approved 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 purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Barclays boosted their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Susquehanna reduced their price objective on Cognizant Technology Solutions from $82.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Fifteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $84.53.

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.