Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC reduced its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 688,236 shares of the information technology service provider's stock after selling 42,807 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.14% of Cognizant Technology Solutions worth $52,925,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CGN Advisors LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $1,294,000. ICICI Prudential Asset Management Co Ltd increased 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 worth $33,041,000 after buying an additional 144,535 shares during the last quarter. Todd Asset Management LLC raised its holdings in Cognizant Technology Solutions by 24.4% in the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock valued at $33,568,000 after acquiring an additional 85,539 shares in the last quarter. Matthews International Capital Management LLC boosted 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 valued at $3,853,000 after acquiring an additional 17,134 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in Cognizant Technology Solutions by 2.7% during the 4th quarter. Retirement Systems of Alabama now owns 1,219,380 shares of the information technology service provider's stock worth $93,770,000 after acquiring an additional 31,530 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock traded down $0.05 during mid-day trading on Friday, hitting $79.16. 3,665,882 shares of the company's stock traded hands, compared to its average volume of 3,575,556. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The company has a market cap of $39.15 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. The firm has a 50 day moving average price of $75.23 and a 200 day moving average price of $78.62. 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 (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. On average, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be given a $0.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 26.11%.

Cognizant Technology Solutions announced that its board has approved a share buyback program 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 programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CTSH. Barclays reduced their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Mizuho upgraded Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Robert W. Baird raised their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, Royal Bank of Canada reiterated 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. Fifteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.87.

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.