Brandywine Global Investment Management LLC Has $23.17 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Brandywine Global Investment Management LLC lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,320 shares of the information technology service provider's stock after selling 23,420 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.06% of Cognizant Technology Solutions worth $23,172,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $28,000. Trust Co. of Vermont boosted its position in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. Spire Wealth Management raised its holdings in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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Cognizant Technology Solutions Stock Performance

CTSH stock traded down $2.66 during trading hours on Thursday, hitting $74.08. 1,871,866 shares of the stock were exchanged, compared to its average volume of 3,545,241. The company has a 50-day simple moving average of $82.57 and a two-hundred day simple moving average of $79.49. The firm has a market capitalization of $36.64 billion, a P/E ratio of 16.43, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

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

Cognizant Technology Solutions declared that its Board of Directors has approved a stock repurchase plan 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 purchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 27.49%.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of recent research reports. Royal Bank of Canada restated a "sector perform" rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. BMO Capital Markets boosted their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, February 6th. UBS Group decreased their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Barclays boosted their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Finally, Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $84.56.

Cognizant Technology Solutions Company 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.