Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 373,250 shares of the information technology service provider's stock after acquiring an additional 26,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Cognizant Technology Solutions worth $28,703,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CTSH. Norges Bank acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $527,719,000. National Bank of Canada FI increased its position in shares of Cognizant Technology Solutions by 54.6% in the fourth quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider's stock valued at $433,254,000 after buying an additional 1,990,515 shares in the last quarter. Capital Research Global Investors increased its position in shares of Cognizant Technology Solutions by 98.9% in the fourth quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock valued at $210,894,000 after buying an additional 1,363,570 shares in the last quarter. Cibc World Market Inc. increased its position in shares of Cognizant Technology Solutions by 34.0% in 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 in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Cognizant Technology Solutions by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock valued at $4,539,290,000 after buying an additional 515,881 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays cut their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on Cognizant Technology Solutions from $92.00 to $81.00 and set a "neutral" rating for the company in a research report on Tuesday. Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $77.00 to $90.00 in a research report on Thursday. Morgan Stanley dropped their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $83.94.

Cognizant Technology Solutions Trading Up 4.0 %

CTSH stock traded up $2.98 during mid-day trading on Thursday, hitting $76.55. 2,322,839 shares of the company were exchanged, compared to its average volume of 3,595,968. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $37.86 billion, a P/E ratio of 16.97, a PEG ratio of 2.11 and a beta of 1.03. The business has a fifty day simple moving average of $76.09 and a 200-day simple moving average of $78.57. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were paid a $0.31 dividend. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.62%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 27.49%.

Cognizant Technology Solutions announced that its Board of Directors has authorized a stock buyback 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 reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.