Optiver Holding B.V. Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Optiver Holding B.V. acquired a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 859 shares of the information technology service provider’s stock, valued at approximately $66,000.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Cognizant Technology Solutions by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider’s stock valued at $4,539,290,000 after purchasing an additional 515,881 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cognizant Technology Solutions by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider’s stock valued at $1,032,239,000 after buying an additional 157,464 shares in the last quarter. FMR LLC raised its stake in shares of Cognizant Technology Solutions by 1.1% during the 4th quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider’s stock worth $857,205,000 after buying an additional 123,745 shares during the last quarter. Invesco Ltd. boosted its position in shares of Cognizant Technology Solutions by 2.8% in the 4th quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider’s stock worth $819,383,000 after buying an additional 287,973 shares in the last quarter. Finally, Norges Bank acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $527,719,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTSH shares. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. UBS Group lowered their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. BMO Capital Markets boosted their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Robert W. Baird reduced their price objective on Cognizant Technology Solutions from $90.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Susquehanna dropped their price objective on Cognizant Technology Solutions from $82.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.13.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $73.29 on Wednesday. The stock has a 50-day moving average price of $76.32 and a two-hundred day moving average price of $78.61. The company has a market cap of $36.25 billion, a PE ratio of 16.25, a price-to-earnings-growth 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.

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

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a $0.31 dividend. 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. This represents a $1.24 annualized dividend and a yield of 1.69%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 27.49%.

Cognizant Technology Solutions announced that its board has initiated a share repurchase plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.