denkapparat Operations GmbH Takes $256,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

denkapparat Operations GmbH bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,332 shares of the information technology service provider’s stock, valued at approximately $256,000.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in shares of Cognizant Technology Solutions by 17.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 25,931 shares of the information technology service provider’s stock valued at $2,001,000 after purchasing an additional 3,917 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cognizant Technology Solutions during the third quarter valued at approximately $734,000. Larson Financial Group LLC raised its stake in shares of Cognizant Technology Solutions by 26,662.5% during the third quarter. Larson Financial Group LLC now owns 2,141 shares of the information technology service provider’s stock worth $165,000 after acquiring an additional 2,133 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Cognizant Technology Solutions by 28.9% in the 3rd quarter. Private Trust Co. NA now owns 1,694 shares of the information technology service provider’s stock worth $131,000 after acquiring an additional 380 shares during the last quarter. Finally, Townsquare Capital LLC boosted its stake in shares of Cognizant Technology Solutions by 19.1% in the 3rd quarter. Townsquare Capital LLC now owns 20,701 shares of the information technology service provider’s stock valued at $1,598,000 after purchasing an additional 3,324 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 2.2 %

NASDAQ:CTSH opened at $75.90 on Friday. 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. The company has a 50-day moving average price of $82.68 and a 200-day moving average price of $79.47. The stock has a market cap of $37.54 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data 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 net margin of 11.35% and a return on equity of 16.78%. Equities analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.63%. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Cognizant Technology Solutions announced that its board has authorized a share buyback program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of analyst reports. Morgan Stanley decreased 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 research report on Wednesday, March 12th. BMO Capital Markets increased their target price on 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 reaffirmed a “sector perform” rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday. Mizuho raised Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Finally, UBS Group cut their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.