Victory Capital Management Inc. Has $63.15 Million Stock Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Victory Capital Management Inc. lowered its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 825,440 shares of the information technology service provider's stock after selling 8,470 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of Cognizant Technology Solutions worth $63,146,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CTSH. Ritholtz Wealth Management grew its holdings in shares of Cognizant Technology Solutions by 21.0% during the first quarter. Ritholtz Wealth Management now owns 10,531 shares of the information technology service provider's stock worth $806,000 after purchasing an additional 1,827 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Cognizant Technology Solutions by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 500,039 shares of the information technology service provider's stock worth $38,253,000 after purchasing an additional 7,105 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Cognizant Technology Solutions by 40.7% in the first quarter. Janney Montgomery Scott LLC now owns 28,047 shares of the information technology service provider's stock worth $2,146,000 after acquiring an additional 8,116 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Cognizant Technology Solutions by 290.9% in the first quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock valued at $69,000 after acquiring an additional 669 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 14.0% in the first quarter. Farther Finance Advisors LLC now owns 4,814 shares of the information technology service provider's stock worth $368,000 after buying an additional 591 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded up $0.12 during trading hours on Friday, reaching $75.68. The stock had a trading volume of 4,901,713 shares, compared to its average volume of 3,531,732. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. Cognizant Technology Solutions Corporation has a 52-week low of $65.52 and a 52-week high of $90.82. The stock has a fifty day moving average of $79.11 and a 200 day moving average of $78.70. The stock has a market cap of $37.31 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The company had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. Cognizant Technology Solutions's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. Sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock buyback program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Evercore ISI began coverage on Cognizant Technology Solutions in a report on Thursday. They set an "outperform" rating and a $100.00 price target for the company. Barclays dropped their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Cognizant Technology Solutions in a research note on Thursday. They issued a "hold" rating and a $80.00 target price on the stock. Finally, 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 note on Thursday, May 1st. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $86.18.

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.