Vise Technologies Inc. Purchases Shares of 4,749 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Vise Technologies Inc. acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,749 shares of the information technology service provider's stock, valued at approximately $365,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cognizant Technology Solutions by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock worth $4,539,290,000 after buying an additional 515,881 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cognizant Technology Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider's stock valued at $1,032,239,000 after purchasing an additional 157,464 shares during the last quarter. FMR LLC grew its holdings in Cognizant Technology Solutions by 1.1% in the 4th quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider's stock worth $857,205,000 after buying an additional 123,745 shares in the last quarter. Invesco Ltd. grew its holdings in Cognizant Technology Solutions by 2.8% in the 4th quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider's stock worth $819,383,000 after buying an additional 287,973 shares in the last quarter. Finally, Norges Bank bought a new position in Cognizant Technology Solutions during the 4th quarter valued at $527,719,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.35 during trading on Friday, hitting $80.30. 9,241,271 shares of the company traded hands, compared to its average volume of 3,582,996. The firm has a market cap of $39.58 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock's fifty day moving average is $75.32 and its 200 day moving average is $78.96.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The company's revenue for the quarter 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. As a group, equities analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business 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 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 26.11%.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on CTSH shares. Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and increased their price objective for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. Barclays reduced their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Royal Bank of Canada restated a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets lifted their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, February 6th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of "Hold" and an average 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.