Union Bancaire Privee UBP SA Has $42,000 Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Union Bancaire Privee UBP SA lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 97.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 548 shares of the information technology service provider's stock after selling 24,287 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Cognizant Technology Solutions were worth $42,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at $28,000. Park Square Financial Group LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Morton Brown Family Wealth LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $37,000. Finally, Asset Planning Inc bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CTSH shares. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $88.00 to $98.00 in a research report on Monday, May 19th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Finally, Barclays decreased their price target on shares of 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $85.00.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded down $1.51 during mid-day trading on Friday, reaching $78.95. 2,469,134 shares of the company were exchanged, compared to its average volume of 3,554,689. The firm has a market cap of $38.92 billion, a PE ratio of 17.51, a PEG ratio of 2.11 and a beta of 0.98. 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 company has a fifty day simple moving average of $76.62 and a 200-day simple moving average of $79.05. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82.

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 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $1.12 earnings per share. Cognizant Technology Solutions's revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were given a dividend of $0.31 per share. The ex-dividend date was Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.57%. Cognizant Technology Solutions's dividend payout ratio is 26.11%.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.