Y Intercept Hong Kong Ltd Buys Shares of 31,733 Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 31,733 shares of the information technology service provider's stock, valued at approximately $2,428,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. Park Square Financial Group LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $36,000. CoreCap Advisors LLC boosted its stake in shares of 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 purchasing an additional 126 shares during the period. Pinney & Scofield Inc. purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $55,000. Loomis Sayles & Co. L P purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $56,000. Finally, Optiver Holding B.V. purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $66,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH traded down $0.06 on Friday, reaching $76.67. 2,549,932 shares of the company's stock were exchanged, compared to its average volume of 2,941,872. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The business's 50-day moving average is $78.64 and its two-hundred day moving average is $78.72. The firm has a market capitalization of $37.79 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.77 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.73% and a return on equity of 16.73%. The business had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same quarter last year, the company earned $1.12 EPS. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.62%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.11%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. 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. Evercore ISI initiated coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price for the company. Guggenheim upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a research note on Friday, July 18th. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $88.00 to $98.00 in a research note on Monday, May 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of "Hold" and a consensus target price 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.