Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Schwerin Boyle Capital Management Inc.

Schwerin Boyle Capital Management Inc. cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150,205 shares of the information technology service provider’s stock after selling 1,300 shares during the period. Cognizant Technology Solutions accounts for approximately 1.2% of Schwerin Boyle Capital Management Inc.’s holdings, making the stock its 26th biggest holding. Schwerin Boyle Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $11,551,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CTSH. Duncker Streett & Co. Inc. purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Trust Co. of Vermont grew its holdings 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 valued at $34,000 after purchasing an additional 292 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions in the 4th quarter worth $36,000. Spire Wealth Management increased its position in shares of Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $37,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTSH has been the topic of several recent analyst reports. Robert W. Baird cut their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, March 27th. Barclays boosted their target price 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. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets upped their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $84.44.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $70.81 on Tuesday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82. The firm has a market cap of $35.02 billion, a P/E ratio of 15.70, a PEG ratio of 2.11 and a beta of 1.03. The stock has a fifty day moving average price of $80.17 and a two-hundred day moving average price of $79.04. 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 announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating 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%. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its board has initiated a share repurchase program on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.75%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

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.