Quantinno Capital Management LP Raises Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Quantinno Capital Management LP grew its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,511 shares of the information technology service provider's stock after acquiring an additional 5,913 shares during the quarter. Quantinno Capital Management LP's holdings in Cognizant Technology Solutions were worth $4,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $28,000. Trust Co. of Vermont increased its position in shares of 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 valued at $34,000 after purchasing an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $36,000. Spire Wealth Management increased its position in shares of 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 valued at $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $37,000. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 1.0%

Shares of CTSH stock traded down $0.78 during mid-day trading on Friday, hitting $79.12. The stock had a trading volume of 2,243,101 shares, compared to its average volume of 3,575,497. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The firm has a market capitalization of $39.00 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. The firm's 50-day moving average is $75.10 and its two-hundred day moving average is $79.00. 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 earnings results 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. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The business had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.06 billion. During the same period in the prior year, the business earned $1.12 EPS. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 26.11%.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTSH. UBS Group cut their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Barclays cut 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. Wall Street Zen raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Guggenheim reaffirmed a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. Finally, TD Securities upped their price objective on Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of "Hold" and an average target price 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.