Dodge & Cox Has $1.41 Billion Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Dodge & Cox trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,330,397 shares of the information technology service provider's stock after selling 19,177 shares during the period. Dodge & Cox owned 3.70% of Cognizant Technology Solutions worth $1,409,608,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CTSH. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Trust Co. of Vermont boosted its stake in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock valued at $34,000 after purchasing an additional 292 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $36,000. Spire Wealth Management lifted its holdings in shares of 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 valued at $37,000 after buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Trading Down 0.8 %

Shares of CTSH traded down $0.57 during trading hours on Friday, reaching $69.44. The stock had a trading volume of 3,091,360 shares, compared to its average volume of 3,600,639. The firm has a 50-day moving average of $78.81 and a 200 day moving average of $78.84. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a market cap of $34.35 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has approved a stock buyback plan on Tuesday, March 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed 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 boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is currently 27.49%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CTSH shares. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. Morgan Stanley decreased their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, UBS Group decreased their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $84.44.

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.