Amalgamated Bank Sells 9,501 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Amalgamated Bank cut its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,355 shares of the information technology service provider’s stock after selling 9,501 shares during the period. Amalgamated Bank’s holdings in Cognizant Technology Solutions were worth $12,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cognizant Technology Solutions by 2.6% during the first quarter. Vanguard Group Inc. now owns 42,692,149 shares of the information technology service provider’s stock valued at $3,828,205,000 after purchasing an additional 1,068,699 shares during the period. State Street Corp grew its position in Cognizant Technology Solutions by 2.0% in the fourth quarter. State Street Corp now owns 23,086,842 shares of the information technology service provider’s stock valued at $2,048,265,000 after acquiring an additional 452,967 shares during the period. Invesco Ltd. grew its position in Cognizant Technology Solutions by 2.3% in the first quarter. Invesco Ltd. now owns 17,470,671 shares of the information technology service provider’s stock valued at $1,566,595,000 after acquiring an additional 398,230 shares during the period. Wellington Management Group LLP grew its position in Cognizant Technology Solutions by 40.6% in the first quarter. Wellington Management Group LLP now owns 12,251,722 shares of the information technology service provider’s stock valued at $1,098,612,000 after acquiring an additional 3,537,761 shares during the period. Finally, Capital Research Global Investors grew its position in Cognizant Technology Solutions by 11.5% in the first quarter. Capital Research Global Investors now owns 10,619,591 shares of the information technology service provider’s stock valued at $952,259,000 after acquiring an additional 1,095,473 shares during the period. 90.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $65.44, for a total value of $285,841.92. Following the transaction, the director now owns 13,556 shares of the company’s stock, valued at $887,104.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group lowered their price target on Cognizant Technology Solutions from $89.00 to $76.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. HSBC cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating and lowered their price target for the company from $90.00 to $79.00 in a research report on Wednesday, August 17th. Citigroup decreased their target price on Cognizant Technology Solutions from $88.00 to $77.00 in a report on Thursday, July 28th. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. Finally, Robert W. Baird decreased their target price on Cognizant Technology Solutions from $94.00 to $84.00 in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $83.63.

Cognizant Technology Solutions Trading Up 0.3 %

Shares of CTSH opened at $62.20 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12-month low of $60.84 and a 12-month high of $93.47. The firm has a market capitalization of $32.21 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The stock’s fifty day simple moving average is $66.50 and its 200-day simple moving average is $74.91.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last released its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that Cognizant Technology Solutions Co. will post 4.55 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, August 18th. Cognizant Technology Solutions’s payout ratio is 25.06%.

Cognizant Technology Solutions Company Profile

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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; Healthcare; Products and Resources; and Communications, Media and Technology.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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