Distillate Capital Partners LLC Reduces Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Distillate Capital Partners LLC lessened its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 52.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,827 shares of the information technology service provider's stock after selling 251,205 shares during the quarter. Distillate Capital Partners LLC's holdings in Cognizant Technology Solutions were worth $17,827,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. Trust Co. of Vermont lifted its stake 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 in the last quarter. SBI Securities Co. Ltd. purchased a new position in Cognizant Technology Solutions during the 4th quarter valued at about $36,000. Spire Wealth Management grew its position in Cognizant Technology Solutions by 74.7% in the 4th 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 purchased a new stake in Cognizant Technology Solutions during the fourth quarter worth about $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH traded down $0.57 during trading on Thursday, reaching $69.44. The company had a trading volume of 3,091,360 shares, compared to its average volume of 3,605,513. 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 stock's fifty day moving average price is $79.53 and its 200 day moving average price is $78.93. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 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%. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes 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 board believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. UBS Group lowered their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Robert W. Baird lowered their price objective on Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. BMO Capital Markets boosted their target price on 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. Finally, Barclays increased their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of "Hold" and a consensus price target of $84.44.

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.