Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,844,882 shares of the information technology service provider’s stock after acquiring an additional 67,017 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.97% of Cognizant Technology Solutions worth $329,452,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CTSH. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions during the second quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the 1st quarter worth approximately $28,000. Neo Ivy Capital Management bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $40,000. Benjamin Edwards Inc. increased its stake in shares of Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 158 shares during the period. Finally, Unique Wealth Strategies LLC bought a new stake in Cognizant Technology Solutions during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $75.64 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The company has a market capitalization of $37.61 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 2.14 and a beta of 1.05. The business’s 50-day moving average is $75.40 and its 200-day moving average is $71.38. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company’s revenue was down .7% compared to the same quarter last year. Equities research analysts expect that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.59%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CTSH shares. Mizuho reiterated a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Barclays lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $77.44.

Insider Transactions at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

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.