Oxford Asset Management LLP Invests $451,000 in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Oxford Asset Management LLP bought a new stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 5,860 shares of the information technology service provider’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tudor Financial Inc. bought a new stake in Cognizant Technology Solutions in the 3rd quarter valued at about $225,000. World Investment Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 21.8% in the 3rd quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider’s stock worth $435,000 after acquiring an additional 1,010 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Cognizant Technology Solutions during the 3rd quarter worth approximately $155,000. Retirement Systems of Alabama grew its holdings in Cognizant Technology Solutions by 3.5% during the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after buying an additional 40,226 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Cognizant Technology Solutions by 5.0% during the third quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider’s stock valued at $51,348,000 after purchasing an additional 31,758 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTSH has been the topic of several recent analyst reports. Susquehanna dropped their target price on shares of Cognizant Technology Solutions from $82.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Barclays reduced their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Finally, BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.67.

Cognizant Technology Solutions Trading Up 0.1 %

Shares of Cognizant Technology Solutions stock opened at $72.17 on Friday. The company’s 50-day moving average price is $76.92 and its 200-day moving average price is $78.64. The company has a market cap of $35.70 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.11 and a beta of 1.03. 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 released its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS 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%. On average, equities analysts expect 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 authorized a share repurchase plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.72%. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

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.