Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Savant Capital LLC

Savant Capital LLC lowered its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,073 shares of the information technology service provider’s stock after selling 167 shares during the period. Savant Capital LLC’s holdings in Cognizant Technology Solutions were worth $308,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $26,000. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth $27,000. Valley National Advisers Inc. raised its holdings in Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in Cognizant Technology Solutions during the 4th quarter valued at $52,000. Finally, Jones Financial Companies Lllp grew its holdings in Cognizant Technology Solutions by 39.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 898 shares of the information technology service provider’s stock worth $61,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.3 %

Shares of Cognizant Technology Solutions stock opened at $66.42 on Tuesday. Cognizant Technology Solutions Co. has a 1-year low of $60.26 and a 1-year high of $80.09. The company has a market capitalization of $33.07 billion, a P/E ratio of 15.97, a PEG ratio of 1.51 and a beta of 1.08. The business’s fifty day moving average price is $72.05 and its two-hundred day moving average price is $72.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.11 earnings per share. As a group, research analysts forecast that Cognizant Technology Solutions Co. will post 4.6 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.81%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Insiders Place Their Bets

In other news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CTSH has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. BMO Capital Markets dropped their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Evercore ISI lifted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Finally, Barclays dropped their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.67.

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.