Vontobel Holding Ltd. Cuts Stock Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Vontobel Holding Ltd. decreased its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,139 shares of the information technology service provider's stock after selling 10,905 shares during the quarter. Vontobel Holding Ltd.'s holdings in Cognizant Technology Solutions were worth $7,661,000 at the end of the most recent reporting period.

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

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded down $1.75 on Friday, reaching $78.50. The stock had a trading volume of 1,777,059 shares, compared to its average volume of 3,561,806. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. Cognizant Technology Solutions Corporation has a 12-month low of $65.52 and a 12-month high of $90.82. The business's 50-day moving average price is $79.01 and its 200 day moving average price is $78.82. The stock has a market cap of $38.70 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.06 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 25th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CTSH shares. Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price objective for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Barclays decreased their price objective on 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. UBS Group decreased their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently 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.