AIA Group Ltd Buys Shares of 3,034 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

AIA Group Ltd purchased a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,034 shares of the information technology service provider’s stock, valued at approximately $233,000.

Other large investors have also made changes to their positions in the company. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Trust Co. of Vermont lifted its stake 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 valued at $34,000 after purchasing an additional 292 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $36,000. Spire Wealth Management raised its holdings in 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 in the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $37,000. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. UBS Group cut their target price on shares of 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. Finally, Morgan Stanley lowered their price target on 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. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.56.

Cognizant Technology Solutions Trading Down 0.1 %

Shares of CTSH stock 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. The firm has a fifty day moving average of $82.62 and a 200-day moving average of $79.51. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The stock has a market cap of $37.81 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating 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, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock 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 buy up to 5.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board 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 dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. 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 yield of 1.62%. 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.