Deutsche Bank AG Buys 1,068,420 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Deutsche Bank AG lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 47.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,303,355 shares of the information technology service provider's stock after acquiring an additional 1,068,420 shares during the period. Deutsche Bank AG owned approximately 0.67% of Cognizant Technology Solutions worth $254,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $28,000. Trust Co. of Vermont increased its stake in Cognizant Technology Solutions by 188.4% during the fourth 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 during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $36,000. Spire Wealth Management increased its position in shares of Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded down $0.98 during mid-day trading on Wednesday, reaching $80.29. The stock had a trading volume of 1,068,990 shares, compared to its average volume of 3,562,905. The firm's 50 day simple moving average is $75.13 and its 200 day simple moving average is $78.72. 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 cap of $39.71 billion, a PE ratio of 17.80, a P/E/G ratio of 2.11 and a beta of 0.93. 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 issued its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The firm's revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 EPS. On average, analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.54%. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. BMO Capital Markets lifted their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their price objective for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Fifteen equities research analysts have rated the stock with a hold rating and four 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 price target 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.