Schroder Investment Management Group Reduces Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Schroder Investment Management Group trimmed its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,802 shares of the information technology service provider’s stock after selling 29,416 shares during the period. Schroder Investment Management Group owned approximately 0.06% of Cognizant Technology Solutions worth $24,532,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth $26,000. Spire Wealth Management lifted its stake in shares of Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 193 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after acquiring an additional 178 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $52,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Cognizant Technology Solutions by 39.7% in 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 during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTSH has been the subject of several recent analyst reports. Susquehanna reduced their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Evercore ISI raised their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday. Citigroup reduced their price objective on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $75.67.

View Our Latest Research Report on CTSH

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $67.25 on Tuesday. The company has a market cap of $33.44 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. Cognizant Technology Solutions Co. has a 12 month low of $61.23 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. The company has a 50-day simple moving average of $67.92 and a 200-day simple moving average of $72.74.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $1.11 earnings per share. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Cognizant Technology Solutions Company Profile

(Free Report)

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.

See Also

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

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