Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 129.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,904,263 shares of the information technology service provider’s stock after purchasing an additional 1,073,666 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Cognizant Technology Solutions were worth $139,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTSH. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $26,000. Spire Wealth Management raised its stake in Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 193 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $40,000. Quarry LP acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $43,000. Finally, Valley National Advisers Inc. raised its stake in shares of Cognizant Technology Solutions by 43.2% during the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. BMO Capital Markets cut their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Susquehanna lowered their price target on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Citigroup cut their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.75.

Cognizant Technology Solutions Stock Down 0.4 %

NASDAQ:CTSH traded down $0.29 on Monday, hitting $74.28. 511,898 shares of the company’s stock traded hands, compared to its average volume of 4,086,122. The company has a market cap of $36.93 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.09. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $68.71 and a 200-day moving average price of $71.86.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter last year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

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.