Walled Lake Planning & Wealth Management LLC Buys 864 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Walled Lake Planning & Wealth Management LLC raised its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,986 shares of the information technology service provider’s stock after buying an additional 864 shares during the quarter. Cognizant Technology Solutions comprises 1.7% of Walled Lake Planning & Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Walled Lake Planning & Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $4,459,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $28,000. Trust Co. of Vermont increased its holdings in shares of Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $36,000. Spire Wealth Management raised its position in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter worth about $37,000. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CTSH shares. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday. UBS Group decreased 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 report on Monday, March 17th. Morgan Stanley dropped 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 report on Wednesday, March 12th. Finally, BMO Capital Markets increased their target price 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. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.56.

Cognizant Technology Solutions Price Performance

CTSH opened at $75.90 on Friday. The stock’s 50 day moving average price is $82.68 and its 200-day moving average price is $79.49. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The stock has a market capitalization of $37.54 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. 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 issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping 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%. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions announced that its Board of Directors has authorized a share buyback program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 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.