Commonwealth Equity Services LLC Has $3.32 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Commonwealth Equity Services LLC increased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,176 shares of the information technology service provider’s stock after acquiring an additional 503 shares during the period. Commonwealth Equity Services LLC’s holdings in Cognizant Technology Solutions were worth $3,320,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Cognizant Technology Solutions by 4.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock valued at $222,000 after buying an additional 127 shares during the last quarter. Graypoint LLC lifted its stake in Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after acquiring an additional 134 shares during the last quarter. Sandy Cove Advisors LLC grew its position in shares of Cognizant Technology Solutions by 3.2% in the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock valued at $333,000 after acquiring an additional 135 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Cognizant Technology Solutions by 3.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,441 shares of the information technology service provider’s stock worth $342,000 after purchasing an additional 166 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in shares of Cognizant Technology Solutions by 3.5% in the 4th quarter. Cidel Asset Management Inc. now owns 5,338 shares of the information technology service provider’s stock valued at $410,000 after purchasing an additional 182 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 1.1 %

Shares of CTSH stock opened at $78.82 on Wednesday. The stock has a market cap of $38.99 billion, a P/E ratio of 17.48, 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 current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $82.72 and a 200 day simple moving average of $79.50.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.57%. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTSH. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. UBS Group decreased 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Finally, Morgan Stanley cut their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.71.

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.