Stifel Financial Corp Sells 9,506 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Stifel Financial Corp lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,765,619 shares of the information technology service provider's stock after selling 9,506 shares during the quarter. Stifel Financial Corp owned about 0.36% of Cognizant Technology Solutions worth $135,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Tudor Financial Inc. purchased a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $225,000. World Investment Advisors LLC lifted its position in Cognizant Technology Solutions by 21.8% during the third quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider's stock valued at $435,000 after buying an additional 1,010 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $155,000. Retirement Systems of Alabama increased 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 worth $91,678,000 after acquiring an additional 40,226 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Cognizant Technology Solutions by 5.0% during 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 acquiring an additional 31,758 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $68.06 on Tuesday. 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 firm has a market capitalization of $33.66 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. The firm has a 50 day moving average of $78.41 and a 200 day moving average of $78.80.

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 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 approved a stock buyback plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued 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 yield of 1.82%. 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%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered 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. StockNews.com raised Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a report on Thursday, February 6th. Royal Bank of Canada restated a "sector perform" rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, March 27th. Finally, UBS Group reduced their price objective 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. Fourteen equities research 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, the stock has an average rating of "Hold" and an average target price of $84.44.

Cognizant Technology Solutions 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.

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