4,072 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,072 shares of the information technology service provider's stock, valued at approximately $313,000.

Other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC raised its position in shares of Cognizant Technology Solutions by 10.3% during the 4th quarter. Townsquare Capital LLC now owns 22,840 shares of the information technology service provider's stock valued at $1,756,000 after buying an additional 2,139 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 55.3% in the 4th quarter. Sterling Capital Management LLC now owns 29,698 shares of the information technology service provider's stock worth $2,284,000 after purchasing an additional 10,575 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. increased its position in shares of Cognizant Technology Solutions by 37.0% during the 4th quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 12,600 shares of the information technology service provider's stock valued at $969,000 after purchasing an additional 3,402 shares during the last quarter. Covestor Ltd raised its holdings in shares of Cognizant Technology Solutions by 3.3% during the 4th quarter. Covestor Ltd now owns 4,389 shares of the information technology service provider's stock valued at $338,000 after buying an additional 139 shares in the last quarter. Finally, DRW Securities LLC lifted its position in Cognizant Technology Solutions by 22.1% in the 4th quarter. DRW Securities LLC now owns 3,625 shares of the information technology service provider's stock worth $279,000 after buying an additional 656 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CTSH. Barclays lifted their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Robert W. Baird lowered their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. BMO Capital Markets boosted their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, February 6th. Finally, Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $84.44.

Cognizant Technology Solutions Trading Up 2.5 %

Shares of NASDAQ CTSH traded up $1.67 during midday trading on Tuesday, hitting $69.73. 2,880,468 shares of the company traded hands, compared to its average volume of 3,594,416. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The stock has a 50-day moving average price of $78.02 and a 200 day moving average price of $78.73. The firm has a market cap of $34.49 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.11 and a beta of 1.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.78%. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 27.49%.

Cognizant Technology Solutions declared that its board has authorized a share buyback plan on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.