Tower Research Capital LLC TRC Has $3.68 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tower Research Capital LLC TRC increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 148.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,811 shares of the information technology service provider's stock after purchasing an additional 28,573 shares during the period. Tower Research Capital LLC TRC's holdings in Cognizant Technology Solutions were worth $3,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CTSH. Norges Bank acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $527,719,000. National Bank of Canada FI raised its holdings in Cognizant Technology Solutions by 54.6% in the 4th quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider's stock valued at $433,254,000 after acquiring an additional 1,990,515 shares in the last quarter. Capital Research Global Investors raised its holdings in Cognizant Technology Solutions by 98.9% in the 4th quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock valued at $210,894,000 after acquiring an additional 1,363,570 shares in the last quarter. Cibc World Market Inc. raised its holdings 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 acquiring an additional 705,946 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Cognizant Technology Solutions by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock valued at $4,539,290,000 after acquiring an additional 515,881 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CTSH shares. BMO Capital Markets lifted their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Morgan Stanley dropped their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Robert W. Baird dropped their price objective on Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Finally, Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a research note on Wednesday. Fifteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of "Hold" and an average price target of $83.67.

Cognizant Technology Solutions Price Performance

CTSH stock traded up $0.05 during midday trading on Friday, reaching $72.17. 2,892,672 shares of the stock were exchanged, compared to its average volume of 3,603,438. The stock has a market capitalization of $35.70 billion, a PE ratio of 16.00, a P/E/G ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The company has a fifty day moving average price of $76.92 and a 200 day moving average price of $78.67.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating 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, analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its board has approved a share repurchase plan 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 plans are often a sign that the company's management believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

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

About Cognizant Technology Solutions

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.