Kesler Norman & Wride LLC Takes Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kesler Norman & Wride LLC purchased a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,129 shares of the information technology service provider’s stock, valued at approximately $702,000.

Other large investors also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $28,000. Trust Co. of Vermont boosted its position in shares of Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. Spire Wealth Management raised its holdings 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 during the period. Finally, Morton Brown Family Wealth LLC bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $37,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $76.73 on Thursday. The firm’s fifty day simple moving average is $82.57 and its two-hundred day simple moving average is $79.49. The firm has a market capitalization of $37.95 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.11 and a beta of 1.12. 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.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS 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%. Analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its board has initiated a share repurchase program on Tuesday, March 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to purchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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. Investors of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.62%. Cognizant Technology Solutions’s payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays boosted their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Morgan Stanley reduced their target price 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 report on Thursday, March 27th. Finally, Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Fourteen investment 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.com, the company has an average rating of “Hold” and an average target price of $84.56.

Cognizant Technology Solutions 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.