Louisbourg Investments Inc. Buys 4,605 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Louisbourg Investments Inc. raised its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,636 shares of the information technology service provider's stock after buying an additional 4,605 shares during the period. Cognizant Technology Solutions accounts for about 1.4% of Louisbourg Investments Inc.'s portfolio, making the stock its 27th largest holding. Louisbourg Investments Inc.'s holdings in Cognizant Technology Solutions were worth $5,710,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CTSH. Brighton Jones LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $214,000. Allworth Financial LP lifted its stake in Cognizant Technology Solutions by 7.7% in the 4th quarter. Allworth Financial LP now owns 2,617 shares of the information technology service provider's stock valued at $207,000 after purchasing an additional 188 shares during the last quarter. Sierra Ocean LLC bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $46,000. CIBC Asset Management Inc increased its position in Cognizant Technology Solutions by 3.6% during the fourth quarter. CIBC Asset Management Inc now owns 161,511 shares of the information technology service provider's stock worth $12,420,000 after buying an additional 5,563 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Cognizant Technology Solutions by 0.4% in the fourth quarter. Truist Financial Corp now owns 53,272 shares of the information technology service provider's stock valued at $4,097,000 after buying an additional 203 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CTSH. UBS Group reduced 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. Guggenheim reaffirmed a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and increased their price target for the company from $88.00 to $98.00 in a report on Monday, May 19th. Finally, Barclays decreased their target price on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $85.00.

Cognizant Technology Solutions Price Performance

CTSH stock traded down $0.57 during mid-day trading on Wednesday, hitting $79.14. The stock had a trading volume of 2,914,965 shares, compared to its average volume of 3,563,367. The firm has a fifty day simple moving average of $77.03 and a 200 day simple moving average of $79.03. The firm has a market capitalization of $39.01 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.82 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week high of $90.82.

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 business had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same period last year, the firm posted $1.12 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.57%. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Cognizant Technology Solutions declared that its Board of Directors has approved a stock buyback program on Tuesday, March 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.