Twin Capital Management Inc. Acquires 1,533 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Twin Capital Management Inc. lifted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,271 shares of the information technology service provider’s stock after purchasing an additional 1,533 shares during the period. Twin Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $2,712,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $28,000. Trust Co. of Vermont increased its stake 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $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 valued at $37,000 after purchasing an additional 204 shares during the period. Finally, Morton Brown Family Wealth LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $37,000. Institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

CTSH has been the subject of several analyst reports. BMO Capital Markets raised their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” 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 note on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.56.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $68.74 on Monday. The stock has a market capitalization of $34.00 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. 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 business’s 50 day simple moving average is $82.21 and its two-hundred day simple moving average is $79.43.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results 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%. Analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a $0.31 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Cognizant Technology Solutions announced that its Board of Directors has approved a share repurchase program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.