Nuveen Asset Management LLC Buys 39,667 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nuveen Asset Management LLC lifted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,208,981 shares of the information technology service provider's stock after acquiring an additional 39,667 shares during the period. Nuveen Asset Management LLC owned approximately 0.24% of Cognizant Technology Solutions worth $92,971,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $28,000. Trust Co. of Vermont increased its stake in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after purchasing an additional 292 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Spire Wealth Management increased its stake in 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 purchasing an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

CTSH stock traded down $0.58 during trading hours on Tuesday, hitting $80.99. 2,789,994 shares of the stock were exchanged, compared to its average volume of 3,561,102. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $39.92 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.11 and a beta of 0.93. The company has a 50-day simple moving average of $75.04 and a two-hundred day simple moving average of $78.92. 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 posted its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm 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 company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 EPS. On average, analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed 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 yield of 1.53%. The ex-dividend date of this dividend is Monday, May 19th. Cognizant Technology Solutions's payout ratio is 26.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CTSH shares. TD Securities raised their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and increased their price objective for the company from $77.00 to $90.00 in a report on Thursday, May 1st. Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. Finally, Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $85.00.

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.