Barrow Hanley Mewhinney & Strauss LLC Has $352.87 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Barrow Hanley Mewhinney & Strauss LLC lowered its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund 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.

Other large investors also recently made changes to their positions in the company. Congress Wealth Management LLC DE raised its stake in shares of Cognizant Technology Solutions by 0.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider’s stock worth $1,920,000 after purchasing an additional 126 shares during the period. Sound View Wealth Advisors Group LLC boosted its stake in Cognizant Technology Solutions by 4.6% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock worth $222,000 after buying an additional 127 shares in the last quarter. Graypoint LLC lifted its position in Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after purchasing an additional 134 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 1.5% in the fourth quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider’s stock worth $704,000 after purchasing an additional 134 shares during the last quarter. Finally, Sandy Cove Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 3.2% during the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after acquiring an additional 135 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $75.90 on Friday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The firm has a market capitalization of $37.54 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.11 and a beta of 1.12. 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 business’s 50-day moving average is $82.68 and its two-hundred day moving average is $79.49.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has initiated a share repurchase plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given 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 yield of 1.63%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is presently 27.49%.

Analysts Set New Price Targets

CTSH has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Barclays boosted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada restated a “sector perform” rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday. Finally, BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $84.56.

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.