State of Wyoming Acquires 4,177 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

State of Wyoming grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 248.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,861 shares of the information technology service provider's stock after purchasing an additional 4,177 shares during the period. State of Wyoming's holdings in Cognizant Technology Solutions were worth $451,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Unison Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 0.4% in the 4th quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider's stock worth $2,276,000 after buying an additional 114 shares during the last quarter. Congress Wealth Management LLC DE boosted its stake in shares of Cognizant Technology Solutions by 0.5% in the 4th quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider's stock worth $1,920,000 after buying an additional 126 shares during the last quarter. CoreCap Advisors LLC boosted its stake 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 buying an additional 126 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in shares of Cognizant Technology Solutions by 4.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider's stock worth $222,000 after buying an additional 127 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 1.5% in the 4th quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider's stock worth $704,000 after buying an additional 134 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their target price for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. Morgan Stanley lowered their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. UBS Group lowered their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $85.00.

Cognizant Technology Solutions Trading Up 0.2%

Shares of NASDAQ CTSH opened at $81.57 on Tuesday. The business's 50 day moving average is $75.04 and its two-hundred day moving average is $78.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The stock has a market capitalization of $40.21 billion, a P/E ratio of 18.09, a PEG ratio of 2.11 and a beta of 0.93.

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

Cognizant Technology Solutions declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.52%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.11%.

About Cognizant Technology Solutions

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.

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.