Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,269 shares of the information technology service provider's stock after acquiring an additional 8,138 shares during the period. IFM Investors Pty Ltd's holdings in Cognizant Technology Solutions were worth $7,507,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth $36,000. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $36,000. CoreCap Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after buying an additional 126 shares in the last quarter. Pinney & Scofield Inc. bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $55,000. Finally, Loomis Sayles & Co. L P purchased a new position in Cognizant Technology Solutions during the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Trading Down 0.6%

Shares of CTSH traded down $0.52 during trading hours on Monday, reaching $80.46. 2,091,305 shares of the company traded hands, compared to its average volume of 3,564,164. The firm has a market cap of $39.66 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.86 and a beta of 0.96. Cognizant Technology Solutions Corporation has a 12-month low of $65.52 and a 12-month high of $90.82. The stock's fifty day moving average price is $79.01 and its 200 day moving average price is $78.82. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business posted $1.12 EPS. Cognizant Technology Solutions's quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

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

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.54%. Cognizant Technology Solutions's payout ratio is presently 26.11%.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of research reports. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Morgan Stanley dropped their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $88.00 to $98.00 in a report on Monday, May 19th. Barclays lowered their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, UBS Group dropped their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.