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

Walled Lake Planning & Wealth Management LLC lifted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,986 shares of the information technology service provider’s stock after buying an additional 864 shares during the period. 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group increased its holdings in Cognizant Technology Solutions by 100.0% in the 4th quarter. Schroder Investment Management Group now owns 284,553 shares of the information technology service provider’s stock worth $21,839,000 after buying an additional 142,305 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Cognizant Technology Solutions by 4.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,179,834 shares of the information technology service provider’s stock worth $244,529,000 after acquiring an additional 148,893 shares during the period. Allianz SE purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $184,000. Intrust Bank NA raised its holdings in shares of Cognizant Technology Solutions by 5.6% during the fourth quarter. Intrust Bank NA now owns 7,205 shares of the information technology service provider’s stock valued at $554,000 after purchasing an additional 379 shares during the last quarter. Finally, Allstate Corp bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $1,149,000. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTSH shares. UBS Group decreased 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 research note on Monday, March 17th. Barclays increased their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. 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 report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. Finally, Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.56.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $75.90 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. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The business has a 50-day moving average price of $82.68 and a 200-day moving average price of $79.49. The firm has a market cap of $37.54 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

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

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed 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 dividend yield of 1.63%. 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%.

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.