Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Barclays PLC

Barclays PLC lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,443,970 shares of the information technology service provider's stock after selling 432,804 shares during the period. Barclays PLC owned 0.29% of Cognizant Technology Solutions worth $111,043,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CTSH. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth about $28,000. Trust Co. of Vermont lifted its stake 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 worth $34,000 after buying an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $36,000. Spire Wealth Management grew its stake in Cognizant Technology Solutions by 74.7% during the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $37,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTSH has been the subject of a number of recent research reports. Robert W. Baird reduced their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Barclays boosted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Finally, Morgan Stanley cut their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company 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 stock. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of "Hold" and an average price target of $84.44.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded down $1.27 during midday trading on Monday, reaching $68.17. 278,792 shares of the company were exchanged, compared to its average volume of 3,587,484. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The stock has a fifty day simple moving average of $78.81 and a 200 day simple moving average of $78.86. 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 market cap of $33.72 billion, a P/E ratio of 15.13, a PEG ratio of 2.11 and a beta of 1.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) 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, beating 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%. On average, 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 business 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. 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 dividend on an annualized basis and a dividend yield of 1.82%. Cognizant Technology Solutions's dividend payout ratio is 27.49%.

Cognizant Technology Solutions announced that its board has initiated a share buyback plan 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 plans are generally an indication that the company's management believes its shares are 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.