Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Fuller & Thaler Asset Management Inc.

Fuller & Thaler Asset Management Inc. grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,090 shares of the information technology service provider’s stock after purchasing an additional 860 shares during the quarter. Fuller & Thaler Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $622,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Retirement Systems of Alabama boosted 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 purchasing an additional 40,226 shares during the last quarter. CGN Advisors LLC acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth approximately $1,294,000. ICICI Prudential Asset Management Co Ltd grew its stake in 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 acquiring an additional 144,535 shares during the period. Todd Asset Management LLC raised its holdings in Cognizant Technology Solutions by 24.4% in the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock valued at $33,568,000 after acquiring an additional 85,539 shares during the last quarter. Finally, Matthews International Capital Management LLC lifted its stake in shares of 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 worth $3,853,000 after purchasing an additional 17,134 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Up 0.1 %

NASDAQ:CTSH opened at $72.17 on Friday. The stock has a 50-day simple moving average of $76.92 and a 200 day simple moving average of $78.63. 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 capitalization of $35.70 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. 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 data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has approved a share buyback program 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 programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.72%. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTSH. Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Barclays lowered their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday. Morgan Stanley cut their price objective on 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. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Finally, Robert W. Baird cut their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Fifteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus target price of $83.67.

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.