Cerity Partners LLC Has $6.75 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cerity Partners LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,689 shares of the information technology service provider’s stock after purchasing an additional 5,578 shares during the period. Cerity Partners LLC’s holdings in Cognizant Technology Solutions were worth $6,748,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its holdings 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 buying an additional 40,226 shares during the last quarter. CGN Advisors LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at $1,294,000. ICICI Prudential Asset Management Co Ltd grew its position in shares of 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 acquiring an additional 144,535 shares during the period. Todd Asset Management LLC increased its stake in shares of 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 purchasing an additional 85,539 shares during the last quarter. Finally, Matthews International Capital Management LLC raised its holdings in shares of 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 valued at $3,853,000 after purchasing an additional 17,134 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $70.17 on Friday. The firm has a market cap of $34.71 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The stock’s fifty day moving average price is $80.43 and its two-hundred day moving average price is $79.07. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82.

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

Cognizant Technology Solutions declared that its Board of Directors has approved a stock repurchase 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 usually an indication that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CTSH shares. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, March 27th. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, March 26th. Finally, Mizuho upgraded 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 assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $84.44.

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.