Dimensional Fund Advisors LP Grows Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Dimensional Fund Advisors LP raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,000,421 shares of the information technology service provider's stock after purchasing an additional 392,429 shares during the period. Dimensional Fund Advisors LP owned 1.21% of Cognizant Technology Solutions worth $461,439,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tudor Financial Inc. purchased a new position in shares of Cognizant Technology Solutions during the third quarter valued at about $225,000. World Investment Advisors LLC grew its holdings in shares of 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 bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $155,000. Retirement Systems of Alabama lifted its stake in shares of Cognizant Technology Solutions by 3.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock valued at $91,678,000 after purchasing an additional 40,226 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Cognizant Technology Solutions by 5.0% in the third quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider's stock worth $51,348,000 after purchasing an additional 31,758 shares during the period. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

CTSH stock traded up $1.09 on Thursday, hitting $72.12. The company had a trading volume of 4,129,945 shares, compared to its average volume of 3,605,115. 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 Co. has a 12-month low of $63.79 and a 12-month high of $90.82. The stock has a market cap of $35.67 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 2.11 and a beta of 1.03. The stock's 50-day simple moving average is $77.62 and its 200 day simple moving average is $78.68.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly 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 return on equity of 16.78% and a net margin of 11.35%. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share 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 typically an indication that the company's board of directors believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.72%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, February 6th. Robert W. Baird cut their price target on Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, March 27th. UBS Group dropped their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. 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 stock presently has an average rating of "Hold" and a consensus price target of $84.53.

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.