FORA Capital LLC Acquires New Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

FORA Capital LLC bought a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,479 shares of the information technology service provider's stock, valued at approximately $729,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Trust Co. of Vermont raised its holdings in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock valued at $34,000 after acquiring an additional 292 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the fourth quarter worth $36,000. Spire Wealth Management lifted its holdings in shares of Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after acquiring an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at about $37,000. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Trading Down 0.7%

CTSH stock traded down $0.54 during trading on Tuesday, hitting $81.27. The company had a trading volume of 2,731,889 shares, compared to its average volume of 3,572,700. The stock has a market cap of $40.20 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.11 and a beta of 0.93. 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 firm has a 50-day moving average price of $75.18 and a 200-day moving average price of $78.70. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Monday, May 19th. Cognizant Technology Solutions's payout ratio is 26.11%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CTSH shares. Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and raised their price target for the stock from $77.00 to $90.00 in a research note on Thursday, May 1st. TD Securities boosted their price target 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. BMO Capital Markets increased their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Morgan Stanley reduced their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Finally, Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $83.87.

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.