D L Carlson Investment Group Inc. Buys New Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

D L Carlson Investment Group Inc. purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 43,074 shares of the information technology service provider’s stock, valued at approximately $3,312,000.

A number of other hedge funds also recently made changes to their positions in CTSH. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth $28,000. Trust Co. of Vermont raised its holdings 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 purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Spire Wealth Management increased its position in Cognizant Technology Solutions by 74.7% during the 4th 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 in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research reports. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday. Barclays boosted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. 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 report on Monday, March 17th. Finally, Morgan Stanley decreased their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $84.56.

Cognizant Technology Solutions Stock Down 2.2 %

Shares of Cognizant Technology Solutions stock 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 business has a 50-day moving average price of $82.68 and a 200 day moving average price of $79.51. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The firm has a market cap of $37.54 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.11 and a beta of 1.12.

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 return on equity of 16.78% and a net margin of 11.35%. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a dividend of $0.31 per share. 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. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is currently 27.49%.

Cognizant Technology Solutions declared that its Board of Directors has approved a share buyback plan 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 purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.