Barrow Hanley Mewhinney & Strauss LLC Buys 67,017 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Barrow Hanley Mewhinney & Strauss LLC grew its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.4% during the second quarter, HoldingsChannel reports. The firm owned 4,844,882 shares of the information technology service provider’s stock after buying an additional 67,017 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Cognizant Technology Solutions were worth $329,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CTSH. Skopos Labs Inc. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $362,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Cognizant Technology Solutions by 1.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 199,413 shares of the information technology service provider’s stock worth $15,062,000 after acquiring an additional 2,944 shares during the last quarter. Johnson Financial Group Inc. grew its stake in shares of Cognizant Technology Solutions by 5.7% in the fourth quarter. Johnson Financial Group Inc. now owns 5,167 shares of the information technology service provider’s stock worth $390,000 after acquiring an additional 277 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Cognizant Technology Solutions during the fourth quarter worth $20,771,000. Finally, TD Asset Management Inc boosted its holdings in Cognizant Technology Solutions by 5.0% in the 4th quarter. TD Asset Management Inc now owns 483,038 shares of the information technology service provider’s stock valued at $36,484,000 after purchasing an additional 23,020 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTSH has been the topic of several research reports. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. JPMorgan Chase & Co. upped their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Finally, Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $77.44.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $75.64 on Friday. Cognizant Technology Solutions Co. has a 1-year low of $62.14 and a 1-year high of $80.27. The firm’s 50-day moving average price is $75.40 and its two-hundred day moving average price is $71.38. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $37.61 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 2.14 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 EPS. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

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.