Mn Services Vermogensbeheer B.V. Has $13.88 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mn Services Vermogensbeheer B.V. lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,437 shares of the information technology service provider’s stock after selling 14,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cognizant Technology Solutions were worth $13,880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Cognizant Technology Solutions by 50.7% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock valued at $33,041,000 after acquiring an additional 144,535 shares in the last quarter. Todd Asset Management LLC boosted its stake in shares of Cognizant Technology Solutions by 24.4% during the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock valued at $33,568,000 after purchasing an additional 85,539 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at about $36,000. Paradigm Asset Management Co. LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth about $1,038,000. Finally, Handelsbanken Fonder AB raised its holdings in Cognizant Technology Solutions by 9.1% in the 4th quarter. Handelsbanken Fonder AB now owns 142,731 shares of the information technology service provider’s stock valued at $10,976,000 after buying an additional 11,921 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTSH shares. Barclays reduced their target price 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. UBS Group reduced their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Finally, Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.00.

Cognizant Technology Solutions Stock Down 1.9%

Shares of NASDAQ CTSH opened at $78.95 on Monday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market cap of $38.92 billion, a PE ratio of 17.51, a P/E/G ratio of 2.11 and a beta of 0.98. The company’s fifty day simple moving average is $76.62 and its 200 day simple moving average is $79.03. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82.

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

Cognizant Technology Solutions Dividend Announcement

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

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

About Cognizant Technology Solutions

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.