China Universal Asset Management Co. Ltd. Acquires 4,148 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

China Universal Asset Management Co. Ltd. boosted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 51.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,217 shares of the information technology service provider's stock after acquiring an additional 4,148 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Cognizant Technology Solutions were worth $935,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTSH. Callan Capital LLC increased its stake in Cognizant Technology Solutions by 31.8% in the 1st quarter. Callan Capital LLC now owns 3,923 shares of the information technology service provider's stock valued at $300,000 after buying an additional 947 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Cognizant Technology Solutions by 14.6% during the 1st quarter. TD Private Client Wealth LLC now owns 18,688 shares of the information technology service provider's stock worth $1,430,000 after purchasing an additional 2,380 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Cognizant Technology Solutions by 1.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider's stock worth $38,253,000 after purchasing an additional 7,105 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Cognizant Technology Solutions by 205.0% during the 1st quarter. Penserra Capital Management LLC now owns 10,909 shares of the information technology service provider's stock worth $833,000 after purchasing an additional 7,332 shares during the last quarter. Finally, World Investment Advisors increased its stake in shares of Cognizant Technology Solutions by 18.8% during the 1st quarter. World Investment Advisors now owns 7,852 shares of the information technology service provider's stock worth $601,000 after purchasing an additional 1,245 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Down 2.9%

Shares of CTSH traded down $2.35 during trading hours on Thursday, hitting $77.60. 1,508,871 shares of the stock were exchanged, compared to its average volume of 3,554,644. 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 current ratio of 2.22 and a quick ratio of 2.22. The business has a 50-day moving average of $79.45 and a 200-day moving average of $78.85. The firm has a market capitalization of $38.25 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping 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 11.73% and a return on equity of 16.73%. Cognizant Technology Solutions's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 earnings per share. On average, research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced 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 1.60%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is presently 26.11%.

Cognizant Technology Solutions announced that its board has approved a stock repurchase program 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 repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several recent analyst reports. Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and upped their price target for the company from $88.00 to $98.00 in a research note on Monday, May 19th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Morgan Stanley cut their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Finally, UBS Group cut their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $85.00.

Cognizant Technology Solutions 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.