Unigestion Holding SA Has $623,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Unigestion Holding SA lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,098 shares of the information technology service provider’s stock after selling 2,158 shares during the quarter. Unigestion Holding SA’s holdings in Cognizant Technology Solutions were worth $623,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $28,000. Trust Co. of Vermont raised its stake in shares of Cognizant Technology Solutions by 188.4% during the 4th 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $36,000. Spire Wealth Management grew its position in Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CTSH. Barclays increased 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 report on Monday, February 10th. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. UBS Group decreased their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. BMO Capital Markets lifted their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, February 6th. Finally, 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. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $84.56.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock opened at $68.74 on Monday. The company has a market capitalization of $34.00 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.11 and a beta of 1.03. 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 Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The stock has a 50 day moving average of $82.21 and a two-hundred day moving average of $79.43.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 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%. As a group, equities analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions announced that its board has authorized a share repurchase plan 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 purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

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.