Envestnet Asset Management Inc. Increases Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Envestnet Asset Management Inc. boosted its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 500,039 shares of the information technology service provider's stock after buying an additional 7,105 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Cognizant Technology Solutions worth $38,253,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $36,000. CoreCap Advisors LLC raised its position in Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after purchasing an additional 126 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at about $55,000. Loomis Sayles & Co. L P purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $56,000. Finally, Optiver Holding B.V. purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $66,000. Institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several analyst reports. Barclays decreased their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. TD Securities raised their target price on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Cognizant Technology Solutions in a research note on Thursday. They issued a "hold" rating and a $80.00 target price on the stock. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $85.94.

Cognizant Technology Solutions Stock Up 1.0%

Shares of CTSH traded up $0.73 during mid-day trading on Thursday, reaching $75.56. The company had a trading volume of 3,830,978 shares, compared to its average volume of 3,538,902. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a 50-day moving average price of $79.18 and a 200 day moving average price of $78.70. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week high of $90.82. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping 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 firm had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same period in the previous year, the firm posted $1.12 EPS. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, sell-side analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions declared that its Board of Directors has authorized a share repurchase program 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 repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.64%. Cognizant Technology Solutions's payout ratio is currently 26.11%.

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.