Nissay Asset Management Corp Japan ADV Boosts Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nissay Asset Management Corp Japan ADV lifted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,483 shares of the information technology service provider’s stock after purchasing an additional 6,060 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Cognizant Technology Solutions were worth $9,067,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Cognizant Technology Solutions in the fourth quarter worth about $527,719,000. National Bank of Canada FI increased its stake in shares of Cognizant Technology Solutions by 54.6% during the fourth quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider’s stock valued at $433,254,000 after purchasing an additional 1,990,515 shares in the last quarter. AE Industrial Partners LP bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $113,088,000. Capital Research Global Investors increased its stake in shares of Cognizant Technology Solutions by 98.9% during the fourth quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider’s stock valued at $210,894,000 after purchasing an additional 1,363,570 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Cognizant Technology Solutions by 47.8% during the fourth quarter. Deutsche Bank AG now owns 3,303,355 shares of the information technology service provider’s stock valued at $254,028,000 after purchasing an additional 1,068,420 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $80.36 on Thursday. 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 company has a market cap of $39.75 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.11 and a beta of 0.93. The firm’s fifty day moving average is $75.07 and its two-hundred day moving average is $78.73. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the previous year, the firm posted $1.12 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its board has authorized a share repurchase program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders 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 dividend yield of 1.54%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.11%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Guggenheim reaffirmed a “neutral” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. TD Securities raised their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Finally, UBS Group decreased 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 note on Monday, March 17th. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.87.

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.