Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Dodge & Cox

Dodge & Cox lessened its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,330,397 shares of the information technology service provider’s stock after selling 19,177 shares during the period. Dodge & Cox’s holdings in Cognizant Technology Solutions were worth $1,409,608,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTSH. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $28,000. Trust Co. of Vermont boosted 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 valued at $34,000 after purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions in the 4th quarter worth $36,000. Spire Wealth Management increased its position in shares of 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 acquiring an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at about $37,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $70.81 on Tuesday. The stock has a market capitalization of $35.02 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The company has a 50 day moving average price of $80.17 and a two-hundred day moving average price of $79.04. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued 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 return on equity of 16.78% and a net margin of 11.35%. As a group, equities analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Cognizant Technology Solutions announced that its Board of Directors has approved 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 reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group dropped their price objective on shares of 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. Royal Bank of Canada restated 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. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Morgan Stanley decreased their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Finally, Robert W. Baird lowered their price objective 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. 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, the stock currently has an average rating of “Hold” and an average target price of $84.44.

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.