Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Lido Advisors LLC

Lido Advisors LLC lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 81.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,113 shares of the information technology service provider's stock after acquiring an additional 8,585 shares during the quarter. Lido Advisors LLC's holdings in Cognizant Technology Solutions were worth $1,470,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Unison Advisors LLC lifted its stake in Cognizant Technology Solutions by 0.4% in the 4th quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider's stock worth $2,276,000 after purchasing an additional 114 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in Cognizant Technology Solutions by 0.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider's stock valued at $1,920,000 after buying an additional 126 shares during the period. Sound View Wealth Advisors Group LLC increased its stake in Cognizant Technology Solutions by 4.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider's stock worth $222,000 after purchasing an additional 127 shares during the period. Graypoint LLC grew its holdings in Cognizant Technology Solutions by 2.9% in the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock worth $369,000 after acquiring an additional 134 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Cognizant Technology Solutions by 1.5% in the 4th quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider's stock worth $704,000 after buying an additional 134 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday. UBS Group cut their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a report on Monday, March 17th. JPMorgan Chase & Co. reduced their price target on Cognizant Technology Solutions from $92.00 to $81.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, BMO Capital Markets lifted their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $83.87.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock traded up $2.47 during trading hours on Friday, reaching $77.70. 5,330,479 shares of the company's stock were exchanged, compared to its average volume of 3,581,150. 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 business has a fifty day moving average of $75.76 and a two-hundred day moving average of $78.57. The company has a market capitalization of $38.43 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the business posted $1.12 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. As a group, research analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.60%. Cognizant Technology Solutions's payout ratio is currently 27.49%.

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.