United Capital Financial Advisors LLC Purchases 317 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

United Capital Financial Advisors LLC raised its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,944 shares of the information technology service provider’s stock after acquiring an additional 317 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Cognizant Technology Solutions were worth $1,918,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CTSH. Bridgewater Associates LP lifted its holdings in Cognizant Technology Solutions by 45.2% in the 4th quarter. Bridgewater Associates LP now owns 69,968 shares of the information technology service provider’s stock worth $5,381,000 after purchasing an additional 21,767 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $17,480,000. Canada Post Corp Registered Pension Plan bought a new stake in Cognizant Technology Solutions in the 4th quarter valued at $604,000. XTX Topco Ltd purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth $482,000. Finally, Mariner LLC boosted its holdings in shares of Cognizant Technology Solutions by 21.2% during the 4th quarter. Mariner LLC now owns 61,621 shares of the information technology service provider’s stock valued at $4,739,000 after purchasing an additional 10,788 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

A number of equities research analysts recently commented on CTSH shares. Robert W. Baird decreased their target price on Cognizant Technology Solutions from $90.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Barclays upped their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. UBS Group cut their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, March 27th. Finally, Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.44.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $69.44 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $78.81 and its two-hundred day moving average is $78.83. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The company has a market capitalization of $34.35 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating 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%. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced 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. This represents a $1.24 annualized dividend and a yield of 1.79%. 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 presently 27.49%.

Cognizant Technology Solutions declared that its board has initiated a share buyback plan on Tuesday, March 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.