Sompo Japan Nipponkoa Asset Management CO. LTD. increased its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 28.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,677 shares of the information technology service provider’s stock after acquiring an additional 17,370 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Cognizant Technology Solutions were worth $3,656,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Moser Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $31,000. Penserra Capital Management LLC increased its position in Cognizant Technology Solutions by 40.0% during the fourth quarter. Penserra Capital Management LLC now owns 588 shares of the information technology service provider’s stock worth $36,000 after buying an additional 168 shares during the last quarter. S.A. Mason LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $48,000. Brooktree Capital Management acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $50,000. Finally, Procyon Private Wealth Partners LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $52,000. Institutional investors and hedge funds own 88.27% of the company’s stock.
Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Cognizant Technology Solutions from $59.00 to $62.00 and gave the stock an “underweight” rating in a research report on Friday, May 8th. Wells Fargo & Co reissued a “buy” rating on shares of Cognizant Technology Solutions in a research report on Friday, May 8th. Deutsche Bank lowered their target price on shares of Cognizant Technology Solutions from $63.00 to $60.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. UBS Group lowered their target price on shares of Cognizant Technology Solutions from $57.00 to $37.00 and set a “sell” rating on the stock in a research report on Tuesday, April 7th. Finally, TheStreet downgraded Cognizant Technology Solutions from a “b-” rating to a “c” rating in a research report on Thursday, March 19th. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $62.50.
CTSH stock traded down $0.29 during trading on Friday, reaching $51.45. 2,624,990 shares of the stock were exchanged, compared to its average volume of 4,044,953. Cognizant Technology Solutions Corp has a twelve month low of $40.01 and a twelve month high of $71.48. The company has a market capitalization of $27.97 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. The stock has a 50 day simple moving average of $52.72 and a 200-day simple moving average of $58.97. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.30.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Thursday, May 7th. The information technology service provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Cognizant Technology Solutions had a return on equity of 20.90% and a net margin of 10.46%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts predict that Cognizant Technology Solutions Corp will post 3.44 EPS for the current year.
Cognizant Technology Solutions announced that its board has authorized a share repurchase program on Wednesday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 20th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.06%.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
Recommended Story: Dividend Achievers
Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).
Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.