LSV Asset Management Buys 670,939 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

LSV Asset Management grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 184.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,034,741 shares of the information technology service provider's stock after purchasing an additional 670,939 shares during the quarter. LSV Asset Management owned approximately 0.21% of Cognizant Technology Solutions worth $78,154,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $26,000. NBC Securities Inc. acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth $27,000. Valley National Advisers Inc. grew its position in shares of Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider's stock valued at $44,000 after purchasing an additional 178 shares during the period. Exchange Traded Concepts LLC increased its stake in Cognizant Technology Solutions by 26.5% in the third quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider's stock valued at $52,000 after purchasing an additional 162 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter worth about $52,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTSH has been the subject of a number of research analyst reports. Barclays dropped their price objective on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an "equal weight" rating for the company in a research note on Friday, April 26th. Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a "sector perform" rating in a report on Wednesday, February 7th. StockNews.com cut shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Thursday. BMO Capital Markets cut their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 30th. Finally, Evercore ISI boosted their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an "in-line" rating in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given 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 $75.67.

Cognizant Technology Solutions Stock Down 0.0 %

NASDAQ:CTSH traded down $0.02 during trading hours on Friday, hitting $66.25. The stock had a trading volume of 7,399,746 shares, compared to its average volume of 3,943,487. The company has a market cap of $32.98 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The business has a 50 day simple moving average of $72.31 and a two-hundred day simple moving average of $72.55. The company has a current ratio of 2.35, a quick ratio of 2.25 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 1-year low of $60.26 and a 1-year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.01. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 EPS. Analysts predict that Cognizant Technology Solutions Co. will post 4.6 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.81%. Cognizant Technology Solutions's dividend payout ratio is presently 28.85%.

Insider Activity

In related news, EVP Kathryn Diaz sold 900 shares of the firm's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

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.