Universal Beteiligungs und Servicegesellschaft mbH Buys New Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 436,655 shares of the information technology service provider’s stock, valued at approximately $33,579,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Cognizant Technology Solutions as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTSH. Duncker Streett & Co. Inc. purchased a new stake in Cognizant Technology Solutions during the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $36,000. Spire Wealth Management boosted its stake in shares of Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares during the period. Morton Brown Family Wealth LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $37,000. Finally, Asset Planning Inc purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $46,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $80.64 on Wednesday. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The firm has a market capitalization of $39.75 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.11 and a beta of 0.93. 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 business has a fifty day simple moving average of $75.16 and a two-hundred day simple moving average of $78.99.

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

Cognizant Technology Solutions declared that its Board of Directors has authorized a stock repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are 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 paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, May 19th. Cognizant Technology Solutions’s payout ratio is 26.11%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. TD Securities increased their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upgraded Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $88.00 to $98.00 in a research report on Monday, May 19th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.00.

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.