AQR Capital Management LLC Trims Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

AQR Capital Management LLC reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 17.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 732,747 shares of the information technology service provider’s stock after selling 151,790 shares during the quarter. AQR Capital Management LLC owned about 0.15% of Cognizant Technology Solutions worth $56,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Unison Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 0.4% during the fourth quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider’s stock worth $2,276,000 after acquiring an additional 114 shares in the last quarter. Congress Wealth Management LLC DE lifted its holdings in Cognizant Technology Solutions by 0.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider’s stock worth $1,920,000 after purchasing an additional 126 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in Cognizant Technology Solutions by 4.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock worth $222,000 after purchasing an additional 127 shares during the period. Graypoint LLC grew its holdings in Cognizant Technology Solutions by 2.9% during the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after buying an additional 134 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Cognizant Technology Solutions by 1.5% during the 4th quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider’s stock valued at $704,000 after buying an additional 134 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CTSH shares. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday. TD Securities raised their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a “hold” rating in a report on Thursday. Susquehanna raised shares of Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and upped their price target for the stock from $77.00 to $90.00 in a report on Thursday. Guggenheim reissued a “neutral” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Finally, Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $83.94.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $75.23 on Friday. 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 stock has a market cap of $37.21 billion, a PE ratio of 16.68, a PEG ratio of 2.11 and a beta of 1.03. The company’s fifty day moving average is $75.91 and its 200 day moving average is $78.56. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders 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 dividend yield of 1.65%. The ex-dividend date is Monday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

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