Schroder Investment Management Group Acquires 142,305 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Schroder Investment Management Group lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 100.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,553 shares of the information technology service provider’s stock after purchasing an additional 142,305 shares during the period. Schroder Investment Management Group owned 0.06% of Cognizant Technology Solutions worth $21,839,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CTSH. 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 valued at $91,678,000 after acquiring an additional 40,226 shares in the last quarter. CGN Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $1,294,000. ICICI Prudential Asset Management Co Ltd increased its position in Cognizant Technology Solutions by 50.7% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock valued at $33,041,000 after buying an additional 144,535 shares in the last quarter. Todd Asset Management LLC raised its stake in Cognizant Technology Solutions by 24.4% during the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock worth $33,568,000 after buying an additional 85,539 shares during the period. Finally, Matthews International Capital Management LLC boosted its holdings in Cognizant Technology Solutions by 52.0% in the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after acquiring an additional 17,134 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $76.73 on Thursday. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The company has a fifty day moving average of $82.57 and a 200-day moving average of $79.49. The company has a market capitalization of $37.95 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 predict 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 share buyback plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in 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 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. Shareholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group decreased their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Barclays increased their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, BMO Capital Markets upped 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 report on Thursday, February 6th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.56.

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.