Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Stock Position Reduced by Alps Advisors Inc.

Alps Advisors Inc. cut its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 242,981 shares of the information technology service provider's stock after selling 4,986 shares during the period. Alps Advisors Inc.'s holdings in Cognizant Technology Solutions were worth $18,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Cognizant Technology Solutions by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock worth $4,539,290,000 after acquiring an additional 515,881 shares in the last quarter. Geode Capital Management LLC grew its position in Cognizant Technology Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider's stock worth $1,032,239,000 after acquiring an additional 157,464 shares in the last quarter. FMR LLC grew its position in Cognizant Technology Solutions by 1.1% in the fourth quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider's stock worth $857,205,000 after acquiring an additional 123,745 shares in the last quarter. Invesco Ltd. grew its position in Cognizant Technology Solutions by 2.8% in the fourth quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider's stock worth $819,383,000 after acquiring an additional 287,973 shares in the last quarter. Finally, Norges Bank bought a new stake in Cognizant Technology Solutions in the fourth quarter worth approximately $527,719,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $76.73 on Friday. The stock has a market cap of $37.82 billion, a P/E ratio of 16.15, a PEG ratio of 1.84 and a beta of 0.96. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The company has a fifty day moving average price of $79.48 and a 200 day moving average price of $78.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data 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. Cognizant Technology Solutions had a net margin of 11.73% and a return on equity of 16.73%. 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 prior year, the company posted $1.12 EPS. The business's revenue was up 7.5% on a year-over-year basis. Analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is 26.11%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. raised 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 research report on Monday, May 19th. UBS Group decreased their price objective 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. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.

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