Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC reduced its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 66.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,657 shares of the information technology service provider’s stock after selling 15,031 shares during the period. Private Advisor Group LLC’s holdings in Cognizant Technology Solutions were worth $578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $26,000. NBC Securities Inc. acquired a new position in Cognizant Technology Solutions during the third quarter worth about $27,000. Spire Wealth Management lifted its holdings in shares of Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares in the last quarter. Valley National Advisers Inc. grew its position in shares of 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 purchasing an additional 178 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $52,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Guggenheim assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note 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. Susquehanna reduced their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, BMO Capital Markets lowered their price target on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus price target of $75.67.

Cognizant Technology Solutions Trading Down 2.2 %

NASDAQ:CTSH opened at $68.76 on Monday. The business’s 50-day moving average is $70.24 and its two-hundred day moving average is $72.79. The firm has a market capitalization of $34.19 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.57 and a beta of 1.08. Cognizant Technology Solutions Co. has a 12 month low of $61.12 and a 12 month high of $80.09. 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 announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period last year, the business posted $1.11 EPS. The company’s revenue was down 1.1% on a year-over-year basis. Research analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.75%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Insider Buying and Selling

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now 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 is available through the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions 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.