14,284 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,284 shares of the information technology service provider’s stock, valued at approximately $1,098,000.

Several other hedge funds have also modified their holdings of CTSH. Retirement Systems of Alabama raised its stake in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after acquiring an additional 40,226 shares in the last quarter. CGN Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $1,294,000. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Cognizant Technology Solutions by 50.7% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after purchasing an additional 144,535 shares in the last quarter. Todd Asset Management LLC grew its stake in Cognizant Technology Solutions by 24.4% during the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock worth $33,568,000 after buying an additional 85,539 shares during the last quarter. Finally, Matthews International Capital Management LLC increased its position in Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after buying an additional 17,134 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $68.74 on Friday. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The company has a market cap of $34.00 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.11 and a beta of 1.03. The business’s 50 day moving average price is $82.21 and its 200 day moving average price is $79.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly 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 net margin of 11.35% and a return on equity of 16.78%. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions announced that its board has initiated a stock buyback plan on Tuesday, March 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are 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 paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is 27.49%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTSH. BMO Capital Markets increased their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, February 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. UBS Group decreased their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, March 27th. Finally, Morgan Stanley decreased their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $84.56.

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.