OneDigital Investment Advisors LLC Has $688,000 Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

OneDigital Investment Advisors LLC grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,944 shares of the information technology service provider’s stock after acquiring an additional 208 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Systems of Alabama grew its position in Cognizant Technology Solutions by 3.5% during the third 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 buying an additional 40,226 shares during the period. CGN Advisors LLC purchased a new position in Cognizant Technology Solutions during the 4th quarter valued at about $1,294,000. ICICI Prudential Asset Management Co Ltd increased its holdings in Cognizant Technology Solutions by 50.7% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after acquiring an additional 144,535 shares during the period. Todd Asset Management LLC increased its holdings in shares of Cognizant Technology Solutions by 24.4% in the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock worth $33,568,000 after purchasing an additional 85,539 shares during the period. Finally, Matthews International Capital Management LLC increased its stake in Cognizant Technology Solutions by 52.0% in the 4th 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 during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTSH has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, March 27th. BMO Capital Markets upped their price objective on shares of 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 dropped their price target on 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. Finally, Guggenheim restated a “neutral” rating on shares of Cognizant Technology Solutions in a report on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.67.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $72.17 on Friday. 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 stock has a market capitalization of $35.70 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. The stock’s 50 day simple moving average is $76.92 and its 200 day simple moving average is $78.64.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data 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 net margin of 11.35% and a return on equity of 16.78%. As a group, research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has initiated a share buyback plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in 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 often an indication that the company’s leadership believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.72%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is presently 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.