Brandywine Global Investment Management LLC Has $23.17 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Brandywine Global Investment Management LLC decreased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,320 shares of the information technology service provider’s stock after selling 23,420 shares during the period. Brandywine Global Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $23,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Duncker Streett & Co. Inc. acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at $28,000. Trust Co. of Vermont raised its position in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at about $36,000. Spire Wealth Management grew its stake in Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after purchasing an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter worth approximately $37,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $75.90 on Monday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a market cap of $37.54 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The firm’s 50-day simple moving average is $82.68 and its two-hundred day simple moving average is $79.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Research analysts predict 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 initiated a share repurchase program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Analyst Ratings Changes

CTSH has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.56.

Cognizant Technology Solutions Company 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.