Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. trimmed its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 168,103 shares of the information technology service provider’s stock after selling 5,817 shares during the period. Achmea Investment Management B.V.’s holdings in Cognizant Technology Solutions were worth $12,860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Duncker Streett & Co. Inc. purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $36,000. Park Square Financial Group LLC purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $36,000. CoreCap Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock valued at $55,000 after acquiring an additional 126 shares during the period. Finally, Pinney & Scofield Inc. purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $55,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 0.2%

Shares of NASDAQ:CTSH opened at $77.74 on Friday. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week high of $90.82. The company’s 50 day moving average is $78.16 and its two-hundred day moving average is $78.88. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The company has a market cap of $38.32 billion, a PE ratio of 16.37, a P/E/G ratio of 1.77 and a beta of 0.98.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data 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. Cognizant Technology Solutions had a net margin of 11.73% and a return on equity of 16.73%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the firm posted $1.12 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

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

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.11%.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of research analyst reports. TD Securities boosted 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 note on Thursday, May 1st. 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. Morgan Stanley reduced their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised shares of Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $88.00 to $98.00 in a research note on Monday, May 19th. Finally, Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.00.

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.