Wellington Management Group LLP Has $494.06 Million Stake in Cognizant Technology Solutions Corporation $CTSH

Key Points

• Wellington Management Group LLP increased its stake in Cognizant Technology Solutions by 9.9%, owning approximately 1.31% of the company, valued at $494.06 million as of the latest SEC disclosure.
• Cognizant recently reported strong quarterly earnings, with $1.31 earnings per share, beating consensus estimates by $0.05 and showing an 8.1% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.31 per share, offering an annualized yield of 1.8%, with a dividend payout ratio of 25.20%.

Wellington Management Group LLP lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,458,318 shares of the information technology service provider's stock after purchasing an additional 579,175 shares during the period. Wellington Management Group LLP owned approximately 1.31% of Cognizant Technology Solutions worth $494,061,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTSH. Park Square Financial Group LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $36,000. CoreCap Advisors LLC lifted its holdings in Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after buying an additional 126 shares during the period. Pinney & Scofield Inc. acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $55,000. Optiver Holding B.V. acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $66,000. Finally, Zions Bancorporation National Association UT acquired a new position in Cognizant Technology Solutions in the first quarter valued at approximately $66,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTSH. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price objective on the stock. Wall Street Zen downgraded shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Robert W. Baird upped 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. Barclays lowered their target price on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a "hold" rating and a $80.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $86.56.

Cognizant Technology Solutions Stock Up 0.1%

Shares of CTSH stock opened at $70.10 on Tuesday. The firm has a fifty day moving average of $75.67 and a 200-day moving average of $77.83. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 12-month low of $65.52 and a 12-month high of $90.82. The company has a market capitalization of $34.24 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.90.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. As a group, equities research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 25.20%.

About Cognizant Technology Solutions

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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