Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 36.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 336,477 shares of the information technology service provider's stock after buying an additional 90,300 shares during the period. KLP Kapitalforvaltning AS owned about 0.07% of Cognizant Technology Solutions worth $25,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CTSH. Park Square Financial Group LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $36,000. CoreCap Advisors LLC increased its stake in shares of 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 buying an additional 126 shares during the period. Pinney & Scofield Inc. purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $55,000. Loomis Sayles & Co. L P purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $56,000. Finally, Optiver Holding B.V. purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $66,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CTSH shares. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. TD Securities upped their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Robert W. Baird upped their price target 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, Deutsche Bank Aktiengesellschaft started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price target for the company. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and an average target price of $86.18.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock traded down $0.06 during mid-day trading on Friday, reaching $76.67. 2,549,932 shares of the company traded hands, compared to its average volume of 2,941,872. 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 Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The company has a market capitalization of $37.79 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The firm's fifty day moving average is $78.64 and its two-hundred day moving average is $78.72.

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 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 business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the business posted $1.12 EPS. Cognizant Technology Solutions's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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. The ex-dividend date was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.62%. 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.