Castlekeep Investment Advisors LLC Buys New Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Castlekeep Investment Advisors LLC bought a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,917 shares of the information technology service provider's stock, valued at approximately $1,609,000.

Other large investors have also recently modified their holdings of the company. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Spire Wealth Management lifted its position in shares of Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after purchasing an additional 204 shares during the period. Morton Brown Family Wealth LLC bought a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $37,000. Finally, Asset Planning Inc purchased a new stake in Cognizant Technology Solutions during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Trading Up 1.9%

Cognizant Technology Solutions stock traded up $1.52 during midday trading on Tuesday, reaching $80.64. 2,752,714 shares of the stock traded hands, compared to its average volume of 3,572,205. The firm has a market cap of $39.75 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. 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 company has a 50-day simple moving average of $75.09 and a two-hundred day simple moving average of $78.98. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The business had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same period last year, the firm earned $1.12 earnings per share. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. Research 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 of Directors has authorized a stock repurchase program on Tuesday, March 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.54%. Cognizant Technology Solutions's payout ratio is currently 26.11%.

Analyst Upgrades and Downgrades

CTSH has been the subject of several recent research reports. Barclays reduced their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. TD Securities upped their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. UBS Group lowered their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Susquehanna upgraded Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price target for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Finally, BMO Capital Markets increased their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Fourteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $85.00.

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.