Nissay Asset Management Corp Japan ADV Buys 6,060 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nissay Asset Management Corp Japan ADV increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,483 shares of the information technology service provider's stock after purchasing an additional 6,060 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Cognizant Technology Solutions were worth $9,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Duncker Streett & Co. Inc. purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $28,000. Trust Co. of Vermont lifted its position in shares of Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after acquiring an additional 292 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $36,000. Spire Wealth Management lifted its position in shares of Cognizant Technology Solutions by 74.7% during the fourth 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 in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $37,000. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 1.1%

CTSH opened at $80.36 on Thursday. The stock has a market cap of $39.75 billion, a PE ratio of 17.82, a P/E/G 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. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The business's fifty day simple moving average is $75.07 and its 200 day simple moving average is $78.73.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The business had revenue of $5.12 billion for the quarter, compared to analysts' expectations 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 was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 earnings per share. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has initiated a stock repurchase plan on Tuesday, March 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared 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 yield of 1.54%. Cognizant Technology Solutions's payout ratio is 26.11%.

Analysts Set New Price Targets

CTSH has been the topic of several recent research reports. TD Securities increased their target price on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Morgan Stanley dropped their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price target on shares of Cognizant Technology Solutions from $92.00 to $81.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Barclays decreased their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their price target for the stock from $77.00 to $90.00 in a report on Thursday, May 1st. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $83.87.

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.

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