Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC cut its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,588,685 shares of the information technology service provider's stock after selling 109,422 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 0.93% of Cognizant Technology Solutions worth $352,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CTSH. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $28,000. SBI Securities Co. Ltd. purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth about $36,000. Spire Wealth Management raised its position in 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 valued at $37,000 after purchasing an additional 204 shares in the last quarter. Morton Brown Family Wealth LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $37,000. Finally, Asset Planning Inc purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $46,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock traded down $0.78 on Monday, hitting $79.12. The stock had a trading volume of 2,243,101 shares, compared to its average volume of 3,575,497. The stock has a market cap of $39.00 billion, a price-to-earnings ratio of 17.54, a P/E/G 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. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The company's 50 day moving average price is $75.10 and its 200 day moving average price is $78.98.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The company had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current 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 shares. This buyback authorization allows the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.57%. Cognizant Technology Solutions's dividend payout ratio is presently 26.11%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CTSH shares. TD Securities raised their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Royal Bank of Canada reissued a "sector perform" rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. JPMorgan Chase & Co. raised shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $88.00 to $98.00 in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird increased their target price on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $85.00.

Cognizant Technology Solutions 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.