O Shaughnessy Asset Management LLC Buys 4,582 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

O Shaughnessy Asset Management LLC increased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 83,273 shares of the information technology service provider’s stock after acquiring an additional 4,582 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $6,404,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $527,719,000. State Street Corp boosted its stake in Cognizant Technology Solutions by 3.6% in the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after purchasing an additional 867,176 shares during the period. Cibc World Market Inc. grew its holdings in Cognizant Technology Solutions by 34.0% in the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock valued at $214,141,000 after buying an additional 705,946 shares in the last quarter. Vanguard Group Inc. increased its position in Cognizant Technology Solutions by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider’s stock worth $4,539,290,000 after buying an additional 515,881 shares during the period. Finally, ING Groep NV lifted its holdings in shares of Cognizant Technology Solutions by 17.9% during the fourth quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider’s stock worth $224,694,000 after buying an additional 443,536 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.1 %

Shares of NASDAQ:CTSH opened at $76.45 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The company has a market capitalization of $37.81 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The company has a fifty day moving average of $82.62 and a 200-day moving average of $79.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has approved a share repurchase program on Tuesday, March 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of recent research reports. BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Morgan Stanley lowered their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Finally, Barclays increased their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.56.

Cognizant Technology Solutions Company 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.