4,407 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Retireful LLC

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

Several other hedge funds also recently modified their holdings of the company. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $28,000. Park Square Financial Group LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $36,000. Spire Wealth Management lifted 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 purchasing an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $37,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTSH has been the topic of several research analyst reports. UBS Group lowered their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price target for the company from $77.00 to $90.00 in a report on Thursday, May 1st. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $88.00 to $98.00 in a report on Monday, May 19th. Royal Bank of Canada restated a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Finally, Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $85.00.

Cognizant Technology Solutions Stock Up 1.2%

Shares of CTSH traded up $0.96 during trading hours on Friday, hitting $80.28. The company had a trading volume of 2,510,344 shares, compared to its average volume of 3,580,710. The company's fifty day moving average price is $75.64 and its two-hundred day moving average price is $79.04. 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 capitalization of $39.57 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. Cognizant Technology Solutions's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business 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 dividend payout ratio is presently 26.11%.

Cognizant Technology Solutions announced that its board has authorized a share repurchase 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 buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

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.