CGN Advisors LLC Buys 8,239 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

CGN Advisors LLC grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 49.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,070 shares of the information technology service provider's stock after buying an additional 8,239 shares during the quarter. CGN Advisors LLC's holdings in Cognizant Technology Solutions were worth $1,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. Park Square Financial Group LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter worth $36,000. Spire Wealth Management raised its position in Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock valued at $37,000 after buying an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in Cognizant Technology Solutions during the 4th quarter valued at $37,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Price Performance

CTSH stock traded down $0.58 during mid-day trading on Wednesday, reaching $79.74. 2,106,724 shares of the company traded hands, compared to its average volume of 3,573,582. The company has a fifty day moving average price of $75.43 and a 200-day moving average price of $78.98. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The company has a market capitalization of $39.31 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

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

Cognizant Technology Solutions announced that its board has initiated a stock buyback plan on Tuesday, March 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on CTSH shares. Wall Street Zen upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Barclays decreased their price objective on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Finally, 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. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of "Hold" and an average price target of $85.00.

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.