Stifel Financial Corp Trims Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Stifel Financial Corp cut its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,765,619 shares of the information technology service provider's stock after selling 9,506 shares during the quarter. Stifel Financial Corp owned approximately 0.36% of Cognizant Technology Solutions worth $135,777,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CTSH. Tudor Financial Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $225,000. World Investment Advisors LLC lifted its position in Cognizant Technology Solutions by 21.8% during the 3rd quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider's stock worth $435,000 after acquiring an additional 1,010 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Cognizant Technology Solutions during the 3rd quarter worth approximately $155,000. Retirement Systems of Alabama lifted its position in Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock worth $91,678,000 after acquiring an additional 40,226 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Cognizant Technology Solutions by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider's stock worth $51,348,000 after acquiring an additional 31,758 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CTSH. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, March 27th. Morgan Stanley decreased their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a 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 on the stock in a research note on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $83.67.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded up $0.05 during trading hours on Friday, hitting $72.17. The stock had a trading volume of 2,892,672 shares, compared to its average volume of 3,603,438. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market capitalization of $35.70 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The stock's fifty day moving average is $76.92 and its two-hundred day moving average is $78.67.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results 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%. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its board has authorized a stock buyback 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 purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.72%. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 27.49%.

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.