Comgest Global Investors S.A.S. Lowers Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Comgest Global Investors S.A.S. decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 48.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,469 shares of the information technology service provider's stock after selling 72,243 shares during the quarter. Comgest Global Investors S.A.S.'s holdings in Cognizant Technology Solutions were worth $5,957,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions during the fourth quarter worth about $28,000. Trust Co. of Vermont boosted its position in shares of Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after acquiring an additional 292 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Spire Wealth Management increased its stake in Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $37,000. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Trading Down 0.8 %

Shares of Cognizant Technology Solutions stock traded down $0.57 on Friday, hitting $69.44. 3,091,360 shares of the company's stock traded hands, compared to its average volume of 3,605,795. The company has a fifty day moving average of $78.81 and a two-hundred day moving average of $78.83. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. 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 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 quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. As a group, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

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 paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.79%. 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 declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their price target on Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reissued a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Morgan Stanley reduced their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. UBS Group lowered their price objective on shares of 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. Finally, Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. 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.com, the stock presently has an average rating of "Hold" and an average target price of $84.44.

About Cognizant Technology Solutions

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.