Cognizant Technology Solutions Co. (NASDAQ:CTSH) Holdings Lifted by Headlands Technologies LLC

Headlands Technologies LLC increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 55.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 37,837 shares of the information technology service provider’s stock after buying an additional 13,447 shares during the period. Headlands Technologies LLC’s holdings in Cognizant Technology Solutions were worth $2,910,000 at the end of the most recent reporting period.

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

Cognizant Technology Solutions Trading Up 0.8 %

NASDAQ CTSH opened at $76.50 on Tuesday. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The firm has a market capitalization of $37.84 billion, a P/E ratio of 16.96, a PEG ratio of 2.11 and a beta of 1.12. The business has a fifty day simple moving average of $82.66 and a 200 day simple moving average of $79.51. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping 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, analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

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

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 dividend of $0.31 per share. 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 1.62%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is 27.49%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley cut their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Barclays lifted their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Finally, BMO Capital Markets raised their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $84.56.

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.