NewEdge Advisors LLC Buys 4,776 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

NewEdge Advisors LLC lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 70.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,562 shares of the information technology service provider's stock after acquiring an additional 4,776 shares during the period. NewEdge Advisors LLC's holdings in Cognizant Technology Solutions were worth $889,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tudor Financial Inc. bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at approximately $225,000. World Investment Advisors LLC increased its holdings in Cognizant Technology Solutions by 21.8% in the 3rd quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider's stock valued at $435,000 after buying an additional 1,010 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $155,000. Retirement Systems of Alabama lifted 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 worth $91,678,000 after acquiring an additional 40,226 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Cognizant Technology Solutions by 5.0% in the third quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider's stock valued at $51,348,000 after acquiring an additional 31,758 shares during the period. Institutional investors own 92.44% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price objective for the company from $77.00 to $90.00 in a report on Thursday. Finally, Morgan Stanley lowered their target price on shares of 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. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $84.27.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock traded up $3.38 during midday trading on Thursday, reaching $76.95. The company had a trading volume of 1,739,006 shares, compared to its average volume of 3,592,838. The stock 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 1-year low of $63.79 and a 1-year high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $38.06 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03.

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

Cognizant Technology Solutions declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically a sign 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. Stockholders of record on Tuesday, February 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio (DPR) is 27.49%.

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.