Coldstream Capital Management Inc. Acquires 436 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Coldstream Capital Management Inc. boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.3% during the 4th quarter, Holdings Channel reports. The firm owned 8,608 shares of the information technology service provider’s stock after buying an additional 436 shares during the period. Coldstream Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $662,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CTSH. Tudor Financial Inc. bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at approximately $225,000. World Investment Advisors LLC grew its stake 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 acquiring an additional 1,010 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $155,000. Retirement Systems of Alabama lifted its stake in 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 purchasing an additional 40,226 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider’s stock valued at $51,348,000 after purchasing an additional 31,758 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BMO Capital Markets increased their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. UBS Group reduced their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Morgan Stanley lowered their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Royal Bank of Canada restated a “sector perform” rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.13.

Cognizant Technology Solutions Trading Up 1.0 %

NASDAQ CTSH opened at $73.29 on Wednesday. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $90.82. The company’s 50-day moving average price is $76.32 and its 200-day moving average price is $78.61. The stock has a market cap of $36.25 billion, a PE ratio of 16.25, a PEG ratio of 2.11 and a beta of 1.03. 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 (NASDAQ:CTSH) last issued 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 net margin of 11.35% and a return on equity of 16.78%. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions announced that its board has authorized a stock repurchase plan 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 repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually 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. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.69%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 27.49%.

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.