Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Mariner LLC

Mariner LLC grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 21.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,621 shares of the information technology service provider's stock after purchasing an additional 10,788 shares during the quarter. Mariner LLC's holdings in Cognizant Technology Solutions were worth $4,739,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTSH. Robert W. Baird cut their price objective on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets increased their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Susquehanna dropped their price objective on Cognizant Technology Solutions from $82.00 to $77.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $83.67.

Cognizant Technology Solutions Trading Down 0.1 %

Shares of NASDAQ CTSH traded down $0.07 during midday trading on Friday, hitting $72.05. The company's stock had a trading volume of 532,704 shares, compared to its average volume of 3,590,471. 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 business's 50 day moving average is $77.25 and its two-hundred day moving average is $78.65. 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 $35.64 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid 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 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is 27.49%.

Cognizant Technology Solutions declared that its board has initiated a stock buyback program 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 repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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.