XTX Topco Ltd Buys New Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

XTX Topco Ltd bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,263 shares of the information technology service provider's stock, valued at approximately $482,000.

A number of other large investors have also modified their holdings of the company. Unison Advisors LLC lifted 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 worth $2,276,000 after acquiring an additional 114 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings 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 buying an additional 126 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in Cognizant Technology Solutions by 4.6% in the 4th 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. Graypoint LLC raised its stake in Cognizant Technology Solutions by 2.9% in the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock valued at $369,000 after purchasing an additional 134 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions by 1.5% during the fourth quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider's stock worth $704,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of Cognizant Technology Solutions from $82.00 to $77.00 and set a "neutral" rating for the company in a research report on Wednesday. Barclays dropped their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday. BMO Capital Markets increased their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Robert W. Baird reduced their price objective on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $83.67.

Cognizant Technology Solutions Stock Down 0.1 %

Shares of CTSH stock traded down $0.07 during midday trading on Friday, reaching $72.05. 532,704 shares of the stock were exchanged, compared to its average volume of 3,590,488. 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 company's 50 day moving average is $77.25 and its two-hundred day moving average is $78.65. The firm has a market cap of $35.64 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share 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%. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

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 given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's payout ratio is currently 27.49%.

Cognizant Technology Solutions announced that its board has authorized a stock repurchase program 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 purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

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.