Janus Henderson Group PLC Trims Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Janus Henderson Group PLC reduced its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.4% in the fourth quarter, Holdings Channel reports. The firm owned 58,149 shares of the information technology service provider’s stock after selling 2,664 shares during the period. Janus Henderson Group PLC’s holdings in Cognizant Technology Solutions were worth $4,471,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CTSH shares. Susquehanna upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and boosted their price target for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. Morgan Stanley reduced their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. UBS Group reduced their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cognizant Technology Solutions from $92.00 to $81.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.87.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $81.44 on Monday. The firm’s 50-day simple moving average is $75.00 and its two-hundred day simple moving average is $78.87. The stock has a market cap of $40.28 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. 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 (NASDAQ:CTSH) last issued its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share. Analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Cognizant Technology Solutions declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.