XTX Topco Ltd Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

XTX Topco Ltd acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 6,263 shares of the information technology service provider's stock, valued at approximately $482,000.

Several other large investors have also made changes to their positions in CTSH. Retirement Systems of Alabama raised its holdings 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 valued at $91,678,000 after buying an additional 40,226 shares during the period. CGN Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $1,294,000. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Cognizant Technology Solutions by 50.7% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock valued at $33,041,000 after purchasing an additional 144,535 shares during the period. Todd Asset Management LLC grew its holdings in Cognizant Technology Solutions by 24.4% during the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock valued at $33,568,000 after purchasing an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC increased its stake in Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock worth $3,853,000 after buying an additional 17,134 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, March 27th. Robert W. Baird lowered their price objective on Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley cut their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. Barclays raised 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. Finally, BMO Capital Markets upped their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $84.53.

Cognizant Technology Solutions Stock Performance

CTSH stock traded up $1.07 during mid-day trading on Thursday, reaching $72.10. The company had a trading volume of 1,742,654 shares, compared to its average volume of 3,605,110. The stock's 50-day simple moving average is $77.62 and its two-hundred day simple moving average is $78.68. The stock has a market capitalization of $35.66 billion, a P/E ratio of 15.99, a P/E/G ratio of 2.11 and a beta of 1.03. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results 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%. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions declared that its board has approved a stock buyback plan on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management 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 given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.72%. 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 27.49%.

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.