Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,669,690 shares of the information technology service provider’s stock after purchasing an additional 27,037 shares during the quarter. American Century Companies Inc.’s holdings in Cognizant Technology Solutions were worth $128,399,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CTSH. Thrivent Financial for Lutherans raised its stake in Cognizant Technology Solutions by 17.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 25,931 shares of the information technology service provider’s stock valued at $2,001,000 after acquiring an additional 3,917 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cognizant Technology Solutions during the third quarter worth approximately $734,000. Moors & Cabot Inc. acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth $413,000. Citizens Financial Group Inc. RI purchased a new position in Cognizant Technology Solutions in the 3rd quarter valued at $206,000. Finally, Banco Santander S.A. acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at $205,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on CTSH shares. Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group cut their target price on 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. Morgan Stanley decreased their price target on 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, Barclays increased their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $83.71.

Cognizant Technology Solutions Stock Down 1.0 %

Shares of NASDAQ CTSH opened at $76.42 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The firm’s 50-day moving average is $82.66 and its two-hundred day moving average is $79.47. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The company has a market capitalization of $37.80 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a $0.31 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.62%. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

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.