Boston Trust Walden Corp Has $9.40 Million Stock Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Boston Trust Walden Corp lessened its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 6.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,849 shares of the information technology service provider's stock after selling 9,160 shares during the quarter. Boston Trust Walden Corp's holdings in Cognizant Technology Solutions were worth $9,398,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. Park Square Financial Group LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $36,000. SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth $36,000. Venturi Wealth Management LLC boosted its position in shares of Cognizant Technology Solutions by 85.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the information technology service provider's stock worth $48,000 after purchasing an additional 286 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 4.6%

NASDAQ:CTSH traded down $3.67 on Friday, hitting $75.47. 11,686,066 shares of the company's stock were exchanged, compared to its average volume of 3,593,210. The firm has a 50-day moving average price of $77.45 and a 200-day moving average price of $78.99. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market cap of $37.20 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.98.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the business earned $1.12 earnings per share. Cognizant Technology Solutions's quarterly revenue was up 7.5% on a year-over-year basis. As a group, analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has authorized a share buyback program on Tuesday, March 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CTSH. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $88.00 to $98.00 in a research note on Monday, May 19th. TD Securities raised their price target on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a research report on Wednesday, April 23rd. Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. Finally, Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $85.00.

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.