Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,511 shares of the information technology service provider’s stock after purchasing an additional 5,913 shares during the quarter. Quantinno Capital Management LP’s holdings in Cognizant Technology Solutions were worth $4,269,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CTSH. Hennion & Walsh Asset Management Inc. purchased a new position in Cognizant Technology Solutions during the fourth quarter worth approximately $268,000. Ritholtz Wealth Management increased its stake in shares of Cognizant Technology Solutions by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock worth $669,000 after acquiring an additional 183 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $399,000. CGN Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $1,294,000. Finally, Trust Co. of Vermont boosted its position in shares of Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.1%

Shares of CTSH opened at $81.44 on Monday. The company’s 50-day simple moving average is $75.00 and its 200-day simple moving average is $78.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The stock has a market capitalization of $40.28 billion, a PE ratio of 18.06, a P/E/G ratio of 2.11 and a beta of 0.93.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. 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 of Directors has authorized a stock repurchase program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in 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 programs are generally a sign that the company’s management believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, May 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.11%.

Wall Street Analyst Weigh In

CTSH has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Susquehanna raised shares of Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and increased their price target for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Guggenheim reaffirmed a “neutral” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. BMO Capital Markets upped their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Finally, TD Securities raised their target price on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.