Barrow Hanley Mewhinney & Strauss LLC Decreases Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Barrow Hanley Mewhinney & Strauss LLC lowered its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,588,685 shares of the information technology service provider’s stock after selling 109,422 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Cognizant Technology Solutions were worth $352,870,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CTSH shares. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday. UBS Group lowered their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday. Finally, Barclays increased their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.56.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $75.90 on Friday. The company has a current ratio of 2.09, a quick 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 1-year low of $63.79 and a 1-year high of $90.82. The company has a 50 day moving average of $82.68 and a 200-day moving average of $79.49.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping 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%. As a group, equities research 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 company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

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

About Cognizant Technology Solutions

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.