Tounjian Advisory Partners LLC Makes New $684,000 Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tounjian Advisory Partners LLC purchased a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,938 shares of the information technology service provider's stock, valued at approximately $684,000.

Other hedge funds also recently added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd boosted its holdings in Cognizant Technology Solutions by 50.7% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock valued at $33,041,000 after purchasing an additional 144,535 shares during the last quarter. Todd Asset Management LLC boosted its holdings in Cognizant Technology Solutions by 24.4% in the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock valued at $33,568,000 after purchasing an additional 85,539 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Cognizant Technology Solutions in the fourth quarter valued at $36,000. Paradigm Asset Management Co. LLC purchased a new stake in Cognizant Technology Solutions in the fourth quarter valued at $1,038,000. Finally, Handelsbanken Fonder AB boosted its holdings in Cognizant Technology Solutions by 9.1% in the fourth quarter. Handelsbanken Fonder AB now owns 142,731 shares of the information technology service provider's stock valued at $10,976,000 after purchasing an additional 11,921 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded down $1.51 during midday trading on Friday, reaching $78.95. The company had a trading volume of 2,469,134 shares, compared to its average volume of 3,554,680. The company has a market capitalization of $38.92 billion, a P/E ratio of 17.51, a P/E/G ratio of 2.11 and a beta of 0.98. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The firm's fifty day simple moving average is $76.37 and its 200-day simple moving average is $79.07. 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 (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 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 firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company posted $1.12 EPS. Cognizant Technology Solutions's quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions declared that its board has authorized a share buyback program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 26.11%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CTSH shares. JPMorgan Chase & Co. raised shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and upped their price target for the company from $88.00 to $98.00 in a report on Monday, May 19th. Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. TD Securities raised their target price on Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Royal Bank of Canada restated 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. Finally, Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of "Hold" and a consensus 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.