Mirae Asset Global Investments Co. Ltd. Purchases 25,681 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 18.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,250 shares of the information technology service provider's stock after buying an additional 25,681 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Cognizant Technology Solutions were worth $12,391,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $28,000. Park Square Financial Group LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter worth about $36,000. SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $36,000. CoreCap Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 21.5% during the 4th 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. Finally, Pinney & Scofield Inc. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 3.1%

NASDAQ CTSH traded up $2.41 during trading on Tuesday, reaching $80.44. 4,899,926 shares of the company's stock were exchanged, compared to its average volume of 3,565,542. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $39.65 billion, a PE ratio of 16.93, a P/E/G ratio of 1.78 and a beta of 0.96. The company's fifty day simple moving average is $78.36 and its 200-day simple moving average is $78.84. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. Sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

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

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, May 19th. This represents a $1.24 annualized dividend and a yield of 1.54%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 26.11%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley dropped their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. TD Securities upped 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Mizuho upgraded Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Finally, Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $85.00.

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.