Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. lifted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 452.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,779 shares of the information technology service provider’s stock after buying an additional 23,568 shares during the quarter. Cognizant Technology Solutions comprises about 0.4% of Fox Run Management L.L.C.’s portfolio, making the stock its 7th largest holding. Fox Run Management L.L.C.’s holdings in Cognizant Technology Solutions were worth $2,213,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Retirement Systems of Alabama raised its stake in Cognizant Technology Solutions by 3.5% in 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 purchasing an additional 40,226 shares in the last quarter. CGN Advisors LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth about $1,294,000. ICICI Prudential Asset Management Co Ltd raised its stake in Cognizant Technology Solutions by 50.7% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after purchasing an additional 144,535 shares in the last quarter. Todd Asset Management LLC raised its stake in Cognizant Technology Solutions by 24.4% in the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock worth $33,568,000 after purchasing an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC raised its stake in Cognizant Technology Solutions by 52.0% in 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 purchasing an additional 17,134 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CTSH shares. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday. UBS Group decreased their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Finally, Morgan Stanley decreased their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Fifteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $83.71.

Cognizant Technology Solutions Trading Down 1.0 %

CTSH opened at $76.42 on Friday. 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 current ratio of 2.09 and a quick ratio of 2.09. The firm has a market capitalization of $37.80 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.11 and a beta of 1.12. The company’s 50 day moving average price is $82.66 and its two-hundred day moving average price is $79.43.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share 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%. As a group, research analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

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

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.