Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC raised its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 205.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,909 shares of the information technology service provider's stock after purchasing an additional 7,332 shares during the quarter. Penserra Capital Management LLC's holdings in Cognizant Technology Solutions were worth $833,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CTSH. Ritholtz Wealth Management lifted its holdings in Cognizant Technology Solutions by 21.0% during the 1st quarter. Ritholtz Wealth Management now owns 10,531 shares of the information technology service provider's stock worth $806,000 after buying an additional 1,827 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Cognizant Technology Solutions by 40.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,047 shares of the information technology service provider's stock worth $2,146,000 after purchasing an additional 8,116 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. Proficio Capital Partners LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $10,059,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 290.9% in the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock worth $69,000 after purchasing an additional 669 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock traded down $1.37 during mid-day trading on Friday, hitting $75.36. 2,673,338 shares of the stock traded hands, compared to its average volume of 3,540,264. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82. The firm has a market cap of $37.15 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. The company's 50-day simple moving average is $79.43 and its 200-day simple moving average is $78.80. 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 (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $5.12 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. As a group, equities research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

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

Cognizant Technology Solutions declared that its Board of Directors has initiated a share buyback program on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on CTSH shares. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. UBS Group cut their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Guggenheim reissued a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $88.00 to $98.00 in a report on Monday, May 19th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $93.00 target price 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus 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.