Campbell Newman Asset Management Inc. Takes $18.43 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Campbell Newman Asset Management Inc. acquired a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 240,890 shares of the information technology service provider’s stock, valued at approximately $18,428,000. Cognizant Technology Solutions makes up 1.6% of Campbell Newman Asset Management Inc.’s investment portfolio, making the stock its 25th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Donald L. Hagan LLC lifted its stake in Cognizant Technology Solutions by 2.6% in the first quarter. Donald L. Hagan LLC now owns 21,535 shares of the information technology service provider’s stock worth $1,647,000 after purchasing an additional 552 shares during the last quarter. Quintet Private Bank Europe S.A. raised its stake in shares of Cognizant Technology Solutions by 41.6% during the first quarter. Quintet Private Bank Europe S.A. now owns 4,087 shares of the information technology service provider’s stock valued at $313,000 after acquiring an additional 1,200 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Cognizant Technology Solutions by 2.2% during the first quarter. NorthCrest Asset Manangement LLC now owns 106,086 shares of the information technology service provider’s stock valued at $8,116,000 after acquiring an additional 2,321 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Cognizant Technology Solutions by 4.0% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 3,969 shares of the information technology service provider’s stock valued at $304,000 after acquiring an additional 154 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in shares of Cognizant Technology Solutions during the first quarter valued at approximately $204,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $78.95 on Friday. The firm’s fifty day moving average is $76.62 and its two-hundred day moving average is $79.05. The firm has a market cap of $38.92 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.11 and a beta of 0.98. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year 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.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data 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 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 period in the previous year, the firm posted $1.12 EPS. Cognizant Technology Solutions’s revenue was up 7.5% compared to the same quarter last year. Research analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions announced that its board has approved a share buyback plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were issued a $0.31 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. Cognizant Technology Solutions’s payout ratio is 26.11%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Barclays cut their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised shares of Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $88.00 to $98.00 in a 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.00.

Cognizant Technology Solutions Company 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.