UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,373,164 shares of the information technology service provider's stock after purchasing an additional 309,919 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.88% of Cognizant Technology Solutions worth $336,296,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CTSH. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $268,000. Merit Financial Group LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $399,000. HB Wealth Management LLC raised its holdings in Cognizant Technology Solutions by 11.0% during the fourth quarter. HB Wealth Management LLC now owns 6,991 shares of the information technology service provider's stock worth $538,000 after purchasing an additional 690 shares during the last quarter. UMB Bank n.a. boosted its position in Cognizant Technology Solutions by 20.4% during the fourth quarter. UMB Bank n.a. now owns 1,502 shares of the information technology service provider's stock worth $116,000 after purchasing an additional 254 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Cognizant Technology Solutions by 11.5% in the fourth quarter. Ballentine Partners LLC now owns 7,663 shares of the information technology service provider's stock valued at $589,000 after buying an additional 789 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $79.99 on Thursday. The company has a market cap of $39.43 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.11 and a beta of 0.93. The firm has a 50 day moving average price of $75.11 and a 200 day moving average price of $78.94. 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 quick ratio of 2.09 and a current ratio of 2.09.

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

Cognizant Technology Solutions announced that its board has initiated a share repurchase plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.11%.

Analysts Set New Price Targets

CTSH has been the topic of a number of research reports. Morgan Stanley lowered their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. BMO Capital Markets upped their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. Finally, Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.

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