Vanguard Group Inc. Purchases 515,881 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Vanguard Group Inc. increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 59,028,485 shares of the information technology service provider’s stock after purchasing an additional 515,881 shares during the period. Vanguard Group Inc. owned 11.91% of Cognizant Technology Solutions worth $4,539,290,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Retirement Systems of Alabama increased its holdings in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after acquiring an additional 40,226 shares during the last quarter. CGN Advisors LLC acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $1,294,000. ICICI Prudential Asset Management Co Ltd increased its holdings in shares of Cognizant Technology Solutions by 50.7% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock valued at $33,041,000 after purchasing an additional 144,535 shares during the last quarter. Todd Asset Management LLC raised its position in shares of Cognizant Technology Solutions by 24.4% in the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock valued at $33,568,000 after purchasing an additional 85,539 shares during the period. Finally, Matthews International Capital Management LLC lifted its stake in shares of Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after buying an additional 17,134 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $77.94 on Tuesday. The stock has a fifty day moving average of $82.68 and a 200-day moving average of $79.47. The stock has a market capitalization of $38.55 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. 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 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, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 27.49%.

Analysts Set New Price Targets

CTSH has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley decreased 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 note on Wednesday, March 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $83.71.

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.