Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 8.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 826,300 shares of the information technology service provider's stock after acquiring an additional 62,437 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Cognizant Technology Solutions worth $63,113,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Duncker Streett & Co. Inc. purchased a new position in Cognizant Technology Solutions during the 4th quarter valued at about $28,000. Trust Co. of Vermont boosted its stake in shares of Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock valued at $34,000 after purchasing an additional 292 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. Spire Wealth Management raised its stake in Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after buying an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new stake in Cognizant Technology Solutions during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Morgan Stanley reduced their target price 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. UBS Group lowered their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. StockNews.com upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada reissued 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. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $84.56.

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Cognizant Technology Solutions Trading Up 0.2 %

NASDAQ CTSH traded up $0.16 on Wednesday, reaching $76.61. 564,084 shares of the company were exchanged, compared to its average volume of 3,833,829. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The business's fifty day moving average price is $82.62 and its 200 day moving average price is $79.51. The stock has a market capitalization of $37.89 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. 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 announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (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%. Analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.62%. 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 presently 27.49%.

Cognizant Technology Solutions announced that its board has approved a share buyback plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

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.