Park Avenue Securities LLC Has $2.25 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Park Avenue Securities LLC reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,453 shares of the information technology service provider's stock after selling 5,802 shares during the quarter. Park Avenue Securities LLC's holdings in Cognizant Technology Solutions were worth $2,253,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Duncker Streett & Co. Inc. bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $28,000. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. Morton Brown Family Wealth LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $37,000. Finally, Asset Planning Inc bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $46,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

CTSH traded down $1.51 during trading on Friday, reaching $78.95. 2,469,134 shares of the company's stock were exchanged, compared to its average volume of 3,558,605. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $76.62 and a 200 day moving average price of $79.05. The company has a market capitalization of $38.92 billion, a P/E ratio of 17.51, a PEG ratio of 2.11 and a beta of 0.98.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. The business's revenue was up 7.5% compared to the same quarter last year. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a $0.31 dividend. 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 presently 26.11%.

Analysts Set New Price Targets

CTSH has been the topic of a number of recent analyst reports. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. 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. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Robert W. Baird lifted their price target 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. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $85.00.

Cognizant Technology Solutions Company 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.