Shelton Capital Management Has $25.30 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Shelton Capital Management raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,955 shares of the information technology service provider's stock after acquiring an additional 8,835 shares during the quarter. Cognizant Technology Solutions makes up 0.6% of Shelton Capital Management's investment portfolio, making the stock its 25th largest holding. Shelton Capital Management owned 0.07% of Cognizant Technology Solutions worth $25,297,000 as of its most recent SEC filing.

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

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded up $0.67 during mid-day trading on Friday, hitting $70.17. The company had a trading volume of 3,195,183 shares, compared to its average volume of 3,597,295. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The firm has a market cap of $34.71 billion, a P/E ratio of 15.56, a PEG ratio of 2.11 and a beta of 1.03. The business's 50-day simple moving average is $80.43 and its 200-day simple moving average is $79.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

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 EPS for the quarter, topping 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%. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. 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 1.77%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's payout ratio is 27.49%.

Cognizant Technology Solutions announced that its board has authorized a share repurchase plan on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTSH shares. Barclays lifted their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Morgan Stanley decreased their price target on 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. Robert W. Baird lowered their price objective on Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Finally, UBS Group lowered their price target 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. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $84.44.

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.