Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 373,250 shares of the information technology service provider’s stock after purchasing an additional 26,000 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Cognizant Technology Solutions were worth $28,703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its stake in Cognizant Technology Solutions by 11.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 8,090 shares of the information technology service provider’s stock worth $622,000 after acquiring an additional 860 shares in the last quarter. MGO One Seven LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth about $213,000. OneDigital Investment Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 2.4% in the fourth quarter. OneDigital Investment Advisors LLC now owns 8,944 shares of the information technology service provider’s stock valued at $688,000 after purchasing an additional 208 shares during the period. State of Tennessee Department of Treasury grew its holdings in shares of Cognizant Technology Solutions by 6.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 160,964 shares of the information technology service provider’s stock valued at $12,378,000 after purchasing an additional 9,209 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of Cognizant Technology Solutions by 19.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 323,686 shares of the information technology service provider’s stock valued at $24,891,000 after purchasing an additional 52,153 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Up 0.1 %

CTSH stock opened at $72.17 on Friday. The company’s 50 day moving average is $76.92 and its two-hundred day moving average is $78.63. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve 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 stock has a market cap of $35.70 billion, a P/E ratio of 16.00, a PEG ratio of 2.11 and a beta of 1.03.

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

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Cognizant Technology Solutions announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

CTSH has been the subject of several 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 company a “market perform” rating in a research report on Thursday, February 6th. Susquehanna decreased their target price on Cognizant Technology Solutions from $82.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday. Robert W. Baird cut their price target on Cognizant Technology Solutions from $90.00 to $78.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.67.

About Cognizant Technology Solutions

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.