Tidal Investments LLC Has $3.93 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Tidal Investments LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 48.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,137 shares of the information technology service provider’s stock after buying an additional 16,625 shares during the quarter. Tidal Investments LLC’s holdings in Cognizant Technology Solutions were worth $3,932,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Wyoming lifted its holdings in Cognizant Technology Solutions by 248.0% during the 4th quarter. State of Wyoming now owns 5,861 shares of the information technology service provider’s stock worth $451,000 after buying an additional 4,177 shares during the period. Toronto Dominion Bank lifted its holdings in Cognizant Technology Solutions by 46.8% during the 4th quarter. Toronto Dominion Bank now owns 280,064 shares of the information technology service provider’s stock worth $21,537,000 after buying an additional 89,342 shares during the period. Siemens Fonds Invest GmbH lifted its holdings in Cognizant Technology Solutions by 37.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 22,886 shares of the information technology service provider’s stock worth $1,760,000 after buying an additional 6,184 shares during the period. Royal Bank of Canada lifted its stake in shares of Cognizant Technology Solutions by 34.5% in the 4th quarter. Royal Bank of Canada now owns 789,045 shares of the information technology service provider’s stock valued at $60,676,000 after purchasing an additional 202,522 shares during the period. Finally, Rafferty Asset Management LLC lifted its stake in shares of Cognizant Technology Solutions by 2.2% in the 4th quarter. Rafferty Asset Management LLC now owns 330,989 shares of the information technology service provider’s stock valued at $25,453,000 after purchasing an additional 7,018 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Susquehanna raised Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. UBS Group dropped their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $88.00 to $98.00 in a research note on Monday. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $85.00.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $80.99 on Wednesday. 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 stock has a 50 day moving average price of $75.09 and a two-hundred day moving average price of $78.94. The firm has a market capitalization of $39.92 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.11 and a beta of 0.93. 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 issued its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 EPS. Equities analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors 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 reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, May 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.11%.

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.