NEOS Investment Management LLC Purchases 13,279 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

NEOS Investment Management LLC boosted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 25.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,128 shares of the information technology service provider’s stock after purchasing an additional 13,279 shares during the quarter. NEOS Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $5,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTSH. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $28,000. Trust Co. of Vermont raised its holdings in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Spire Wealth Management boosted its stake in Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $37,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.3 %

Shares of Cognizant Technology Solutions stock opened at $77.58 on Friday. The stock has a market capitalization of $38.37 billion, a P/E ratio of 17.20, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The stock’s 50-day simple moving average is $82.72 and its 200 day simple moving average is $79.47.

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, beating 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 announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. 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 Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTSH. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Barclays upped their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday. Finally, StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $84.56.

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.