OneDigital Investment Advisors LLC Lowers Stock Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

OneDigital Investment Advisors LLC reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 47.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,723 shares of the information technology service provider's stock after selling 4,221 shares during the period. OneDigital Investment Advisors LLC's holdings in Cognizant Technology Solutions were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CTSH. Park Square Financial Group LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $36,000. CoreCap Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after acquiring an additional 126 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $55,000. Loomis Sayles & Co. L P acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $56,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $66,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 1.8%

CTSH opened at $75.36 on Friday. The business's 50-day simple moving average is $79.43 and its 200-day simple moving average is $78.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The stock has a market capitalization of $37.15 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

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

Cognizant Technology Solutions declared that its board has initiated a share buyback program 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 programs are typically an indication that the company's leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Analyst Ratings Changes

Several analysts have recently issued reports on CTSH shares. JPMorgan Chase & Co. upgraded Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $88.00 to $98.00 in a research note on Monday, May 19th. Mizuho upgraded Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. UBS Group reduced their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Barclays reduced their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, TD Securities increased their price objective on Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.

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