Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is Dalton Investments Inc.'s 5th Largest Position

Key Points

• Dalton Investments Inc. increased its stake in Cognizant Technology Solutions by 46.5% during Q1, owning 217,638 shares worth approximately $16.6 million.
• Major institutional investors, including Goldman Sachs and Invesco, also expanded their holdings in Cognizant, indicating strong institutional support for the stock.
• Cognizant recently declared a quarterly dividend of $0.31 per share, representing an annualized yield of 1.8% with a payout ratio of 25.20%.

Dalton Investments Inc. lifted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 46.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,638 shares of the information technology service provider's stock after buying an additional 69,100 shares during the quarter. Cognizant Technology Solutions makes up 8.9% of Dalton Investments Inc.'s holdings, making the stock its 5th largest position. Dalton Investments Inc.'s holdings in Cognizant Technology Solutions were worth $16,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Motley Fool Asset Management LLC boosted its position in Cognizant Technology Solutions by 3.9% during the first quarter. Motley Fool Asset Management LLC now owns 27,098 shares of the information technology service provider's stock worth $2,073,000 after purchasing an additional 1,005 shares in the last quarter. Linscomb Wealth Inc. raised its holdings in shares of Cognizant Technology Solutions by 6.0% during the first quarter. Linscomb Wealth Inc. now owns 30,105 shares of the information technology service provider's stock valued at $2,303,000 after acquiring an additional 1,714 shares during the last quarter. CCM Investment Group LLC acquired a new position in shares of Cognizant Technology Solutions during the first quarter valued at approximately $2,688,000. Nuveen LLC acquired a new position in shares of Cognizant Technology Solutions during the first quarter valued at approximately $90,194,000. Finally, Aigen Investment Management LP acquired a new position in shares of Cognizant Technology Solutions during the first quarter valued at approximately $653,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

CTSH has been the subject of a number of research analyst reports. Evercore ISI initiated coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set an "outperform" rating and a $100.00 target price for the company. Barclays reduced their target price on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set a "hold" rating and a $80.00 target price for the company. TD Securities increased their price target on Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Finally, Robert W. Baird increased their price target on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of "Hold" and a consensus price target of $86.56.

Cognizant Technology Solutions Trading Down 1.5%

CTSH stock traded down $1.05 during midday trading on Thursday, hitting $69.37. 2,885,671 shares of the company's stock were exchanged, compared to its average volume of 3,873,405. The business has a 50-day simple moving average of $76.28 and a two-hundred day simple moving average of $78.13. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $33.88 billion, a PE ratio of 14.10, a P/E/G ratio of 1.43 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the business posted $1.17 earnings per share. The company's quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 25.20%.

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.