Retireful LLC Purchases Shares of 4,407 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Retireful LLC acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,407 shares of the information technology service provider's stock, valued at approximately $334,000.

Other institutional investors and hedge funds have also modified their holdings of the company. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Cognizant Technology Solutions by 50.7% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock valued at $33,041,000 after buying an additional 144,535 shares during the period. Todd Asset Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 24.4% in the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock valued at $33,568,000 after buying an additional 85,539 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Cognizant Technology Solutions by 2.7% in the 4th quarter. Retirement Systems of Alabama now owns 1,219,380 shares of the information technology service provider's stock valued at $93,770,000 after buying an additional 31,530 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Finally, Paradigm Asset Management Co. LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $1,038,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH traded down $0.42 during trading hours on Thursday, hitting $79.32. 3,195,147 shares of the stock were exchanged, compared to its average volume of 3,584,173. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The firm's fifty day moving average price is $75.50 and its 200 day moving average price is $78.98. 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 cap of $39.10 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.11 and a beta of 0.98.

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

Cognizant Technology Solutions declared that its board has approved a share repurchase program 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 purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were given a $0.31 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.24 annualized dividend and a yield of 1.56%. Cognizant Technology Solutions's payout ratio is 26.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $88.00 to $98.00 in a report on Monday, May 19th. TD Securities upped their price target on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Robert W. Baird upped their price target on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Barclays reduced their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, BMO Capital Markets upped their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, February 6th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $85.00.

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.