Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,273 shares of the information technology service provider's stock after buying an additional 4,582 shares during the period. O Shaughnessy Asset Management LLC's holdings in Cognizant Technology Solutions were worth $6,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Cognizant Technology Solutions in the fourth quarter worth $527,719,000. State Street Corp lifted its stake in shares of Cognizant Technology Solutions by 3.6% during the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider's stock worth $1,928,405,000 after purchasing an additional 867,176 shares during the last quarter. Cibc World Market Inc. lifted its position in shares of Cognizant Technology Solutions by 34.0% during the fourth 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 buying an additional 705,946 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Cognizant Technology Solutions by 0.9% in 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 buying an additional 515,881 shares during the last quarter. Finally, ING Groep NV grew its holdings in Cognizant Technology Solutions by 17.9% in the fourth quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider's stock worth $224,694,000 after purchasing an additional 443,536 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms have recently issued reports on CTSH. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. UBS Group reduced their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. Finally, StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $84.56.

Cognizant Technology Solutions Stock Down 4.5 %

Shares of NASDAQ:CTSH traded down $3.46 during trading on Thursday, hitting $73.27. The company's stock had a trading volume of 3,835,403 shares, compared to its average volume of 3,551,984. 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 company has a market capitalization of $36.24 billion, a PE ratio of 16.25, a P/E/G ratio of 2.11 and a beta of 1.12. The business has a 50 day moving average price of $82.44 and a two-hundred day moving average price of $79.45. 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 issued its earnings results 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 return on equity of 16.78% and a net margin of 11.35%. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.69%. Cognizant Technology Solutions's dividend payout ratio is currently 27.49%.

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