Union Bancaire Privee UBP SA Has $42,000 Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Union Bancaire Privee UBP SA lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 97.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 548 shares of the information technology service provider’s stock after selling 24,287 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Cognizant Technology Solutions were worth $42,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $214,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $907,000. Allspring Global Investments Holdings LLC raised its stake in shares of Cognizant Technology Solutions by 11.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 275,450 shares of the information technology service provider’s stock valued at $21,047,000 after purchasing an additional 27,315 shares during the period. Van ECK Associates Corp raised its stake in shares of Cognizant Technology Solutions by 2.0% in the 4th quarter. Van ECK Associates Corp now owns 175,029 shares of the information technology service provider’s stock valued at $13,459,000 after purchasing an additional 3,349 shares during the period. Finally, Avestar Capital LLC raised its stake in shares of Cognizant Technology Solutions by 9.9% in the 4th quarter. Avestar Capital LLC now owns 7,245 shares of the information technology service provider’s stock valued at $557,000 after purchasing an additional 651 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 1.9%

Cognizant Technology Solutions stock opened at $78.95 on Friday. 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 stock has a market capitalization of $38.92 billion, a P/E ratio of 17.51, a PEG ratio of 2.11 and a beta of 0.98. The stock has a 50-day simple moving average of $76.62 and a 200 day simple moving average of $79.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 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 business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the company posted $1.12 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 7.5% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

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

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.

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Susquehanna raised Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and lifted their price target for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. UBS Group decreased their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Finally, Robert W. Baird raised their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions has an average 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.