D L Carlson Investment Group Inc. Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

D L Carlson Investment Group Inc. purchased a new position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,074 shares of the information technology service provider’s stock, valued at approximately $3,312,000.

A number of other hedge funds also recently bought and sold shares of the stock. Duncker Streett & Co. Inc. purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $28,000. Trust Co. of Vermont increased its position in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 292 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $36,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 74.7% during the fourth 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 in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $75.90 on Monday. 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 stock has a market cap of $37.54 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 2.11 and a beta of 1.12. The company’s 50-day moving average price is $82.68 and its 200 day moving average price is $79.51. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) 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, research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Cognizant Technology Solutions announced that its board has approved a stock buyback program on Tuesday, March 25th that permits the company to repurchase $2.00 billion in 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 often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on CTSH. Morgan Stanley lowered 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets boosted 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 research report on Thursday, February 6th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.56.

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.