Robeco Institutional Asset Management B.V. Sells 9,943 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 3.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 245,681 shares of the information technology service provider's stock after selling 9,943 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Cognizant Technology Solutions were worth $18,795,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Duncker Streett & Co. Inc. purchased a new position in Cognizant Technology Solutions during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. bought 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 position in shares of Cognizant Technology Solutions during the fourth quarter valued at $36,000. CoreCap Advisors LLC raised its position in shares of Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after purchasing an additional 126 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $55,000. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CTSH. UBS Group reduced their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and increased their price target for the company from $77.00 to $90.00 in a report on Thursday, May 1st. Robert W. Baird raised 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Finally, Barclays cut their target price 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. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $85.00.

Cognizant Technology Solutions Stock Up 0.2%

Cognizant Technology Solutions stock opened at $77.74 on Friday. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The stock has a fifty day moving average of $78.16 and a 200 day moving average of $78.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. The stock has a market cap of $38.32 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.73% and a return on equity of 16.73%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed 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 1.60%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 26.11%.

Cognizant Technology Solutions declared that its board has authorized a stock buyback plan 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 repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

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.

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