Canada Post Corp Registered Pension Plan Acquires Shares of 7,858 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Canada Post Corp Registered Pension Plan bought a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,858 shares of the information technology service provider’s stock, valued at approximately $604,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CTSH. Y Intercept Hong Kong Ltd acquired a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $422,000. Tudor Financial Inc. purchased a new position in Cognizant Technology Solutions in the 3rd quarter valued at $225,000. World Investment Advisors LLC increased its stake in Cognizant Technology Solutions by 21.8% in the 3rd quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider’s stock valued at $435,000 after buying an additional 1,010 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Cognizant Technology Solutions during the 3rd quarter worth $155,000. Finally, Retirement Systems of Alabama lifted its stake in shares of 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 acquiring an additional 40,226 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTSH. Robert W. Baird dropped their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. UBS Group dropped their target price on 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 reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Mizuho raised Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.44.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $71.26 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’s 50 day moving average price is $79.86 and its 200 day moving average price is $78.99. The firm has a market cap of $35.25 billion, a P/E ratio of 15.80, a PEG ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data 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%. 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 declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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 paid 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 of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.74%. Cognizant Technology Solutions’s dividend payout ratio is presently 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.