111 Capital Invests $1.01 Million in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

111 Capital purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,146 shares of the information technology service provider's stock, valued at approximately $1,011,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth about $28,000. Park Square Financial Group LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $36,000. Spire Wealth Management boosted its position in shares of 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 worth $37,000 after buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Down 0.4%

NASDAQ CTSH traded down $0.35 on Friday, hitting $80.30. 9,241,271 shares of the stock traded hands, compared to its average volume of 3,589,447. The stock has a 50-day moving average of $75.29 and a 200 day moving average of $78.99. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The company has a market capitalization of $39.58 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The firm had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Cognizant Technology Solutions's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Securities upped their target price on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their target price for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $88.00 to $98.00 in a research report on Monday, May 19th. Finally, UBS Group decreased their target price on 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. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $85.00.

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.