UniSuper Management Pty Ltd Purchases 1,655 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

UniSuper Management Pty Ltd raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 104,466 shares of the information technology service provider’s stock after buying an additional 1,655 shares during the period. UniSuper Management Pty Ltd’s holdings in Cognizant Technology Solutions were worth $8,033,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CTSH shares. BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. Finally, Barclays increased their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. 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, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $84.56.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $77.58 on Friday. The firm’s 50 day moving average is $82.72 and its 200 day moving average is $79.47. The stock has a market capitalization of $38.37 billion, a P/E ratio of 17.20, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its 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 return on equity of 16.78% and a net margin of 11.35%. On average, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business 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 1.60%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

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

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.