Deutsche Bank AG Buys 1,068,420 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Deutsche Bank AG increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 47.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,303,355 shares of the information technology service provider’s stock after acquiring an additional 1,068,420 shares during the quarter. Deutsche Bank AG’s holdings in Cognizant Technology Solutions were worth $254,028,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $28,000. Trust Co. of Vermont raised its holdings in 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 worth $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $36,000. Spire Wealth Management boosted its stake in Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $37,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

CTSH opened at $79.21 on Friday. The firm has a market cap of $39.18 billion, a P/E ratio of 17.56, a PEG ratio of 2.11 and a beta of 0.93. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The company has a 50 day simple moving average of $75.32 and a two-hundred day simple moving average of $78.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the business posted $1.12 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities 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 has initiated a stock repurchase plan on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be issued a $0.31 dividend. The ex-dividend date is Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.11%.

Analyst Ratings Changes

Several equities research analysts recently commented on CTSH shares. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. UBS Group reduced their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Royal Bank of Canada restated a “sector perform” rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Finally, Robert W. Baird increased their price target on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Fifteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.87.

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.