Fox Run Management L.L.C. Has $2.21 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Fox Run Management L.L.C. increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 452.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,779 shares of the information technology service provider’s stock after buying an additional 23,568 shares during the period. Cognizant Technology Solutions accounts for about 0.4% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 7th biggest holding. Fox Run Management L.L.C.’s holdings in Cognizant Technology Solutions were worth $2,213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Retirement Systems of Alabama raised its stake in shares of Cognizant Technology Solutions by 3.5% during the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after buying an additional 40,226 shares during the last quarter. CGN Advisors LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $1,294,000. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Cognizant Technology Solutions by 50.7% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after buying an additional 144,535 shares during the last quarter. Todd Asset Management LLC raised 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 worth $33,568,000 after buying an additional 85,539 shares during the last quarter. Finally, Matthews International Capital Management LLC grew its holdings in Cognizant Technology Solutions by 52.0% during the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after purchasing an additional 17,134 shares during the period. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $76.42 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $82.66 and its two-hundred day moving average price is $79.43. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The firm has a market capitalization of $37.80 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 17th. BMO Capital Markets boosted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price objective on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $83.71.

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.