Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 688,236 shares of the information technology service provider’s stock after selling 42,807 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.14% of Cognizant Technology Solutions worth $52,925,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Duncker Streett & Co. Inc. acquired a new position in Cognizant Technology Solutions in the fourth quarter worth $28,000. Trust Co. of Vermont raised its holdings in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions during the 4th quarter valued at $36,000. Spire Wealth Management lifted its holdings in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth about $37,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Up 0.4 %

Shares of Cognizant Technology Solutions stock opened at $77.91 on Thursday. 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 quick ratio of 2.09 and a current ratio of 2.09. The business’s 50 day simple moving average is $75.40 and its 200 day simple moving average is $78.57. The firm has a market cap of $38.54 billion, a PE ratio of 17.28, a P/E/G ratio of 2.11 and a beta of 0.93.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.11%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTSH. Morgan Stanley cut their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Guggenheim reaffirmed a “neutral” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. TD Securities boosted their price objective on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Finally, Susquehanna raised Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and raised their target price for the company from $77.00 to $90.00 in a report on Thursday, May 1st. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $83.87.

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.