D L Carlson Investment Group Inc. Acquires Shares of 43,074 Cognizant Technology Solutions Co. (NASDAQ:CTSH)

D L Carlson Investment Group Inc. acquired a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 43,074 shares of the information technology service provider's stock, valued at approximately $3,312,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at 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 valued at $34,000 after purchasing an additional 292 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $36,000. Spire Wealth Management increased its stake 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 buying an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $37,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTSH has been the subject of several research reports. Barclays lifted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Morgan Stanley reduced 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 research note on Wednesday, March 12th. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $84.56.

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Cognizant Technology Solutions Stock Performance

CTSH stock traded down $3.35 on Thursday, reaching $73.38. 2,212,265 shares of the company were exchanged, compared to its average volume of 3,548,081. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The stock's fifty day moving average price is $82.57 and its 200 day moving average price is $79.49. The firm has a market capitalization of $36.30 billion, a PE ratio of 16.28, a PEG ratio of 2.11 and a beta of 1.12.

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, 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, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase plans are often a sign 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. Investors of record on Tuesday, February 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is presently 27.49%.

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.