Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by iSAM Funds UK Ltd

iSAM Funds UK Ltd boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 151.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,140 shares of the information technology service provider's stock after purchasing an additional 9,108 shares during the period. Cognizant Technology Solutions makes up approximately 0.9% of iSAM Funds UK Ltd's portfolio, making the stock its 18th biggest holding. iSAM Funds UK Ltd's holdings in Cognizant Technology Solutions were worth $1,164,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTSH. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $28,000. Trust Co. of Vermont grew its position in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $36,000. Spire Wealth Management grew its position in Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after purchasing an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at about $37,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of analyst reports. StockNews.com upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Barclays dropped their target price on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Robert W. Baird raised their target price on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. 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 report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upgraded Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and raised their target price for the company from $88.00 to $98.00 in a research report on Monday. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of "Hold" and a consensus price target of $85.00.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $81.57 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The business has a 50 day simple moving average of $75.04 and a 200-day simple moving average of $78.92. The firm has a market capitalization of $40.21 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted 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 analyst estimates of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The business's revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 earnings per share. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its board has approved a share repurchase plan 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 repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is presently 26.11%.

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.

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