AE Industrial Partners LP Makes New Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

AE Industrial Partners LP purchased a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,470,588 shares of the information technology service provider's stock, valued at approximately $113,088,000. Cognizant Technology Solutions makes up approximately 10.9% of AE Industrial Partners LP's investment portfolio, making the stock its 3rd biggest position. AE Industrial Partners LP owned about 0.30% of Cognizant Technology Solutions as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Cognizant Technology Solutions by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock worth $4,539,290,000 after acquiring an additional 515,881 shares during the period. Geode Capital Management LLC boosted its position in shares of Cognizant Technology Solutions by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider's stock valued at $1,032,239,000 after purchasing an additional 157,464 shares in the last quarter. FMR LLC grew its stake in shares of Cognizant Technology Solutions by 1.1% in the 4th quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider's stock worth $857,205,000 after purchasing an additional 123,745 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Cognizant Technology Solutions by 2.8% in the 4th quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider's stock worth $819,383,000 after purchasing an additional 287,973 shares in the last quarter. Finally, Norges Bank bought a new stake in Cognizant Technology Solutions during the fourth quarter worth approximately $527,719,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Up 3.3 %

Shares of Cognizant Technology Solutions stock opened at $77.70 on Friday. The firm has a market cap of $38.43 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 2.11 and a beta of 1.03. The stock has a 50-day simple moving average of $75.76 and a 200-day simple moving average of $78.57. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.06 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The company's revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has approved a share 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 buy up to 5.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, May 19th. This represents a $1.24 annualized dividend and a yield of 1.60%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Robert W. Baird increased their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price target for the stock from $77.00 to $90.00 in a research note on Thursday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets boosted 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $83.87.

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.

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