Dynamic Technology Lab Private Ltd Makes New $1.10 Million Investment in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Dynamic Technology Lab Private Ltd acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,284 shares of the information technology service provider’s stock, valued at approximately $1,098,000.

A number of other hedge funds have also recently made changes to their positions in CTSH. Duncker Streett & Co. Inc. purchased a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Trust Co. of Vermont lifted its holdings 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 in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $36,000. Spire Wealth Management grew its stake in 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 valued at $37,000 after acquiring an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC bought a new stake in Cognizant Technology Solutions in the 4th quarter valued at $37,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 6.2 %

Shares of NASDAQ CTSH opened at $68.74 on Friday. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The company has a market cap of $34.00 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.11 and a beta of 1.03. The business’s 50 day moving average price is $82.21 and its 200-day moving average price is $79.40.

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 analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.80%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 27.49%.

Cognizant Technology Solutions declared that its board has approved a stock repurchase 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 purchase up to 5.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

CTSH has been the subject of a number of research analyst reports. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. 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, March 26th. Morgan Stanley decreased their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Finally, UBS Group decreased their price target on shares of 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. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average 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.