Arjuna Capital Buys Shares of 15,879 Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Arjuna Capital bought a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,879 shares of the information technology service provider's stock, valued at approximately $1,215,000.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Cognizant Technology Solutions by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock worth $4,539,290,000 after purchasing an additional 515,881 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cognizant Technology Solutions by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider's stock worth $1,032,239,000 after acquiring an additional 157,464 shares in the last quarter. FMR LLC raised its position in shares of Cognizant Technology Solutions by 1.1% in the 4th quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider's stock worth $857,205,000 after acquiring an additional 123,745 shares in the last quarter. Invesco Ltd. raised its position in shares of Cognizant Technology Solutions by 2.8% in the 4th quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider's stock worth $819,383,000 after acquiring an additional 287,973 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $527,719,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Stock Down 1.8%

CTSH stock traded down $1.37 during mid-day trading on Friday, reaching $75.36. 2,673,338 shares of the company traded hands, compared to its average volume of 3,540,264. The stock has a market cap of $37.15 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.73 and a beta of 0.96. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The firm's 50 day moving average price is $79.43 and its 200 day moving average price is $78.80.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released 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 the consensus estimate of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The company's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a $0.31 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.65%. Cognizant Technology Solutions's payout ratio is presently 26.11%.

Cognizant Technology Solutions declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CTSH shares. Royal Bank Of Canada reissued 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. Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. TD Securities lifted their price objective 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. Barclays lowered their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Finally, Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and raised their target price for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.