Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Position Raised by ARGA Investment Management LP

ARGA Investment Management LP increased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 129.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,086 shares of the information technology service provider's stock after purchasing an additional 64,465 shares during the quarter. Cognizant Technology Solutions accounts for about 0.3% of ARGA Investment Management LP's investment portfolio, making the stock its 26th largest holding. ARGA Investment Management LP's holdings in Cognizant Technology Solutions were worth $8,728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTSH. Brighton Jones LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $214,000. SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Steward Partners Investment Advisory LLC increased its position in Cognizant Technology Solutions by 3.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,441 shares of the information technology service provider's stock worth $342,000 after purchasing an additional 166 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $10,059,000. Finally, Raymond James Financial Inc. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $27,114,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CTSH. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. UBS Group lowered their price objective on shares of 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. Morgan Stanley lowered their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. TD Securities increased their price objective on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $85.00.

Cognizant Technology Solutions Stock Up 0.3%

Shares of CTSH stock traded up $0.25 during mid-day trading on Tuesday, reaching $80.71. 1,965,813 shares of the company were exchanged, compared to its average volume of 3,557,798. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. The company has a market capitalization of $39.79 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.86 and a beta of 0.96. The business's 50 day simple moving average is $79.17 and its 200 day simple moving average is $78.83.

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, topping the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The firm had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same period last year, the business posted $1.12 earnings per share. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. Research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions declared that its Board of Directors has initiated a stock buyback 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 typically a sign that the company's board of directors believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors 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 (DPR) is presently 26.11%.

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.