Teachers Retirement System of The State of Kentucky Boosts Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Teachers Retirement System of The State of Kentucky increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,686 shares of the information technology service provider's stock after purchasing an additional 52,153 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.07% of Cognizant Technology Solutions worth $24,891,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CTSH. Norges Bank bought a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $527,719,000. National Bank of Canada FI boosted its holdings in shares of Cognizant Technology Solutions by 54.6% during the 4th quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider's stock worth $433,254,000 after buying an additional 1,990,515 shares in the last quarter. Capital Research Global Investors grew its holdings in Cognizant Technology Solutions by 98.9% in the fourth quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock worth $210,894,000 after purchasing an additional 1,363,570 shares during the period. Cibc World Market Inc. increased its position in Cognizant Technology Solutions by 34.0% in the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider's stock valued at $214,141,000 after buying an additional 705,946 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock worth $4,539,290,000 after purchasing an additional 515,881 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 0.1 %

NASDAQ:CTSH traded up $0.05 during midday trading on Friday, hitting $72.17. The stock had a trading volume of 2,892,672 shares, compared to its average volume of 3,600,300. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one 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 company has a market capitalization of $35.70 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.11 and a beta of 1.03. The stock has a 50-day moving average of $76.92 and a 200 day moving average of $78.63.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates 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, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions declared that its board has authorized a share buyback program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding 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 programs are usually a sign that the company's board believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a $0.31 dividend. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.72%. Cognizant Technology Solutions's dividend payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTSH. UBS Group decreased their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Guggenheim reissued a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday. Finally, BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $83.67.

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.