MSH Capital Advisors LLC Invests $1.15 Million in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

MSH Capital Advisors LLC bought a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 14,891 shares of the information technology service provider's stock, valued at approximately $1,145,000.

Several other hedge funds have also added to or reduced their stakes in CTSH. Norges Bank bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $527,719,000. National Bank of Canada FI grew its position in Cognizant Technology Solutions by 54.6% during the 4th quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider's stock valued at $433,254,000 after purchasing an additional 1,990,515 shares during the last quarter. Cibc World Market Inc. increased its position in shares of Cognizant Technology Solutions by 34.0% during the fourth quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider's stock valued at $214,141,000 after acquiring an additional 705,946 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cognizant Technology Solutions by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider's stock worth $4,539,290,000 after purchasing an additional 515,881 shares during the last quarter. Finally, ING Groep NV raised its position in Cognizant Technology Solutions by 17.9% in the 4th quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider's stock worth $224,694,000 after buying an additional 443,536 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CTSH shares. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. 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 report on Wednesday, March 12th. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Finally, Robert W. Baird cut their price objective on Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of "Hold" and a consensus target price of $84.44.

Cognizant Technology Solutions Price Performance

CTSH stock traded down $0.57 during mid-day trading on Friday, hitting $69.44. The company had a trading volume of 3,091,360 shares, compared to its average volume of 3,605,795. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 2.11 and a beta of 1.03. The company has a 50-day moving average price of $78.81 and a 200 day moving average price of $78.83. The company has a quick ratio of 2.09, a current 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.

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

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock 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 reacquire 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 shares are undervalued.

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 represents a $1.24 annualized dividend and a dividend yield of 1.79%. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's payout ratio is currently 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.