Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,886 shares of the information technology service provider's stock after acquiring an additional 6,184 shares during the period. Siemens Fonds Invest GmbH's holdings in Cognizant Technology Solutions were worth $1,760,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CTSH. Vanguard Group Inc. increased its holdings in Cognizant Technology Solutions by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock valued at $4,539,290,000 after buying an additional 515,881 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cognizant Technology Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider's stock valued at $1,032,239,000 after buying an additional 157,464 shares during the last quarter. FMR LLC increased its holdings in Cognizant Technology Solutions by 1.1% in the fourth quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider's stock valued at $857,205,000 after buying an additional 123,745 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Cognizant Technology Solutions by 2.8% during the fourth quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider's stock worth $819,383,000 after purchasing an additional 287,973 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $527,719,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock traded down $0.35 during midday trading on Friday, reaching $80.30. 9,241,271 shares of the company traded hands, compared to its average volume of 3,582,996. The firm's 50 day simple moving average is $75.32 and its two-hundred day simple moving average is $78.95. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $39.58 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93.

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 (EPS) for the quarter, beating 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 company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the firm earned $1.12 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors 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. Stockholders of record on Monday, May 19th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.54%. Cognizant Technology Solutions's payout ratio is 26.11%.

Analysts Set New Price Targets

CTSH has been the topic of several research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and raised their price target for the stock from $77.00 to $90.00 in a report on Thursday, May 1st. Royal Bank of Canada reissued a "sector perform" rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Barclays lowered their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, 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. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price 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.