NEOS Investment Management LLC Has $5.09 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

NEOS Investment Management LLC boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,128 shares of the information technology service provider's stock after purchasing an additional 13,279 shares during the period. NEOS Investment Management LLC's holdings in Cognizant Technology Solutions were worth $5,085,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. UniSuper Management Pty Ltd boosted its stake in Cognizant Technology Solutions by 1.6% in the 4th quarter. UniSuper Management Pty Ltd now owns 104,466 shares of the information technology service provider's stock valued at $8,033,000 after buying an additional 1,655 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Cognizant Technology Solutions by 8.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 826,300 shares of the information technology service provider's stock valued at $63,113,000 after purchasing an additional 62,437 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth about $131,000. Keystone Investors PTE Ltd. acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $3,555,000. Finally, Prudential Financial Inc. boosted its position in Cognizant Technology Solutions by 18.7% in the fourth quarter. Prudential Financial Inc. now owns 1,547,081 shares of the information technology service provider's stock valued at $118,971,000 after buying an additional 243,399 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

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Cognizant Technology Solutions Trading Up 0.3 %

Shares of NASDAQ:CTSH traded up $0.20 during midday trading on Tuesday, hitting $76.70. The company had a trading volume of 544,284 shares, compared to its average volume of 3,559,580. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The firm has a fifty day simple moving average of $82.66 and a 200 day simple moving average of $79.51. The stock has a market cap of $37.94 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.11 and a beta of 1.12.

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 for the quarter, topping 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 predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions announced that its board has approved a share buyback program on Tuesday, March 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is 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 issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.62%. Cognizant Technology Solutions's payout ratio is currently 27.49%.

Analyst Ratings Changes

CTSH has been the subject of several recent analyst reports. StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Mizuho upgraded Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Royal Bank of Canada restated a "sector perform" rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Finally, Barclays upped their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.