Mufg Securities Americas Inc. Invests $563,000 in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mufg Securities Americas Inc. purchased a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 4th quarter, HoldingsChannel reports. The fund purchased 7,320 shares of the information technology service provider’s stock, valued at approximately $563,000.

Several other institutional investors have also recently made changes to their positions in CTSH. Norges Bank bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $527,719,000. National Bank of Canada FI increased its stake in Cognizant Technology Solutions by 54.6% in the fourth quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider’s stock valued at $433,254,000 after acquiring an additional 1,990,515 shares during the last quarter. AE Industrial Partners LP bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $113,088,000. Capital Research Global Investors increased its stake in Cognizant Technology Solutions by 98.9% in the fourth quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider’s stock valued at $210,894,000 after acquiring an additional 1,363,570 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Cognizant Technology Solutions by 47.8% in the fourth quarter. Deutsche Bank AG now owns 3,303,355 shares of the information technology service provider’s stock valued at $254,028,000 after acquiring an additional 1,068,420 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 1.2%

NASDAQ CTSH opened at $81.36 on Friday. 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 stock has a market capitalization of $40.24 billion, a PE ratio of 18.04, a PEG ratio of 2.11 and a beta of 0.93. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The business’s 50-day moving average is $75.02 and its 200 day moving average is $78.77.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the business posted $1.12 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock buyback program on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Cognizant Technology Solutions Dividend Announcement

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

Wall Street Analyst Weigh In

CTSH has been the topic of a number of research analyst reports. UBS Group reduced their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Robert W. Baird increased their target price on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Barclays reduced their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $83.87.

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.