Siemens Fonds Invest GmbH Purchases 6,184 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Siemens Fonds Invest GmbH increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,886 shares of the information technology service provider's stock after purchasing an additional 6,184 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Cognizant Technology Solutions were worth $1,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Unison Advisors LLC boosted its stake in Cognizant Technology Solutions by 0.4% in the fourth quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider's stock valued at $2,276,000 after acquiring an additional 114 shares during the last quarter. Congress Wealth Management LLC DE boosted its stake in Cognizant Technology Solutions by 0.5% in 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 acquiring an additional 126 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after acquiring an additional 126 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in Cognizant Technology Solutions by 4.6% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider's stock valued at $222,000 after acquiring an additional 127 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Cognizant Technology Solutions by 1.5% in the fourth quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider's stock valued at $704,000 after acquiring an additional 134 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CTSH. StockNews.com upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. BMO Capital Markets boosted their target price on shares of 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. Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Finally, Barclays lowered 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 research report on Friday, April 25th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $85.00.

Cognizant Technology Solutions Trading Down 0.7%

Shares of NASDAQ:CTSH traded down $0.58 on Tuesday, hitting $80.99. The company had a trading volume of 2,789,994 shares, compared to its average volume of 3,565,009. The firm's 50-day simple moving average is $75.04 and its two-hundred day simple moving average is $78.92. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. 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 firm has a market capitalization of $39.92 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 2.11 and a beta of 0.93.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its 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 net margin of 11.35% and a return on equity of 16.78%. The firm had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.06 billion. During the same period last year, the company posted $1.12 EPS. The company's quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts anticipate 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 initiated a share 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 shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.53%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 26.11%.

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.