ASR Vermogensbeheer N.V. Makes New $5.85 Million Investment in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• ASR Vermogensbeheer N.V. made a new investment of approximately $5.85 million in Cognizant Technology Solutions Corporation, acquiring 76,410 shares in the first quarter.
• Institutional investors and hedge funds own 92.44% of Cognizant Technology Solutions' stock, indicating significant institutional interest in the company.
• Cognizant reported $1.31 earnings per share for the last quarter, exceeding analysts' estimates, along with a revenue of $5.25 billion, up 8.1% from the previous year.

ASR Vermogensbeheer N.V. acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 76,410 shares of the information technology service provider's stock, valued at approximately $5,845,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Cognizant Technology Solutions by 117.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock valued at $520,651,000 after buying an additional 3,677,145 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cognizant Technology Solutions by 7.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,000,421 shares of the information technology service provider's stock valued at $461,439,000 after buying an additional 392,429 shares during the period. Northern Trust Corp lifted its holdings in shares of Cognizant Technology Solutions by 16.2% in the 4th quarter. Northern Trust Corp now owns 5,960,206 shares of the information technology service provider's stock valued at $458,340,000 after buying an additional 831,276 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cognizant Technology Solutions by 7.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,373,164 shares of the information technology service provider's stock valued at $336,296,000 after buying an additional 309,919 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Cognizant Technology Solutions by 47.8% in the 4th quarter. Deutsche Bank AG now owns 3,303,355 shares of the information technology service provider's stock valued at $254,028,000 after buying an additional 1,068,420 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $70.90 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a fifty day moving average of $77.37 and a two-hundred day moving average of $78.46. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.45 and a beta of 0.90. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. Cognizant Technology Solutions's revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. On average, analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.24 annualized dividend and a yield of 1.7%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 25.20%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CTSH shares. Robert W. Baird raised their price target on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions 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. TD Securities raised their price objective on Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Finally, Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a research note on Friday, July 18th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus target price of $85.88.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.