Level Four Advisory Services LLC Grows Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Level Four Advisory Services LLC grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,023 shares of the information technology service provider’s stock after purchasing an additional 2,503 shares during the period. Level Four Advisory Services LLC’s holdings in Cognizant Technology Solutions were worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTSH. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $28,000. Trust Co. of Vermont increased its position in 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 worth $34,000 after purchasing an additional 292 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth about $36,000. Spire Wealth Management boosted its holdings in Cognizant Technology Solutions by 74.7% in the 4th 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 last quarter. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. BMO Capital Markets increased their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday. Barclays increased their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $84.56.

Cognizant Technology Solutions Stock Down 2.2 %

Shares of NASDAQ:CTSH opened at $75.90 on Friday. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The firm’s 50 day moving average price is $82.68 and its 200 day moving average price is $79.47. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The stock 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 issued its 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 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 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.63%. Cognizant Technology Solutions’s payout ratio is 27.49%.

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

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.