1,179,002 Shares in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired 1,179,002 shares of Cognizant Technology Solutions, valued at around $90.19 million, representing approximately 0.24% of the company as of their latest SEC filing.
• Cognizant Technology Solutions reported $1.31 earnings per share for the last quarter, exceeding analyst expectations of $1.26 and showing an 8.1% revenue growth year-over-year.
• The company will pay a quarterly dividend of $0.31 per share on August 26th, reflecting an annualized dividend yield of 1.8%.

Nuveen LLC purchased a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,179,002 shares of the information technology service provider's stock, valued at approximately $90,194,000. Nuveen LLC owned 0.24% of Cognizant Technology Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in CTSH. Goldman Sachs Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 117.5% during the first quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider's stock worth $520,651,000 after purchasing an additional 3,677,145 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Cognizant Technology Solutions by 2,585.0% during the first quarter. Pacer Advisors Inc. now owns 1,776,601 shares of the information technology service provider's stock worth $135,910,000 after purchasing an additional 1,710,433 shares during the period. AE Industrial Partners LP acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $113,088,000. Invesco Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 13.3% during the first quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider's stock worth $923,925,000 after purchasing an additional 1,422,265 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Cognizant Technology Solutions by 98.9% during the fourth quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock worth $210,894,000 after purchasing an additional 1,363,570 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CTSH. Evercore ISI assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set 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. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and raised their price objective for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on shares of Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating on the stock in a research report on Monday, July 28th. Finally, 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. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $86.56.

Cognizant Technology Solutions Stock Performance

CTSH stock traded up $0.63 on Friday, reaching $70.00. 3,538,845 shares of the company were exchanged, compared to its average volume of 4,640,384. Cognizant Technology Solutions Corporation has a 12 month low of $65.52 and a 12 month high of $90.82. The stock's fifty day moving average price is $75.88 and its 200 day moving average price is $77.95. The firm has a market capitalization of $34.19 billion, a PE ratio of 14.23, a PEG ratio of 1.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Cognizant Technology Solutions's revenue was up 8.1% compared to the same quarter last year. On average, research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, August 18th. Cognizant Technology Solutions's payout ratio is currently 25.20%.

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.