Mn Services Vermogensbeheer B.V. Has $13.88 Million Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,437 shares of the information technology service provider's stock after selling 14,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Cognizant Technology Solutions were worth $13,880,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Duncker Streett & Co. Inc. bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $36,000. Park Square Financial Group LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at about $36,000. Morton Brown Family Wealth LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth about $37,000. Finally, Sierra Ocean LLC bought a new position in Cognizant Technology Solutions in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 0.5%

CTSH traded down $0.44 during midday trading on Tuesday, hitting $79.71. 2,798,609 shares of the company's stock traded hands, compared to its average volume of 3,565,330. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market cap of $39.29 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.83 and a beta of 0.98. The stock's fifty day simple moving average is $76.89 and its 200-day simple moving average is $79.03. Cognizant Technology Solutions Corporation has a one year low of $65.48 and a one year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The business 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 firm's revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. As a group, equities analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were paid 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 1.56%. Cognizant Technology Solutions's payout ratio is 26.11%.

Analysts Set New Price Targets

CTSH has been the subject of a number of research analyst reports. Guggenheim reaffirmed a "neutral" rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Barclays dropped their price target on shares of 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. TD Securities raised their price objective on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $77.00 to $90.00 in a report on Thursday, May 1st. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $85.00.

About Cognizant Technology Solutions

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.