Cwm LLC Sells 1,854 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cwm LLC reduced its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,428 shares of the information technology service provider’s stock after selling 1,854 shares during the period. Cwm LLC’s holdings in Cognizant Technology Solutions were worth $5,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CTSH. Vanguard Group Inc. boosted its position in Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after buying an additional 7,445,089 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Cognizant Technology Solutions by 2.5% in the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after acquiring an additional 412 shares in the last quarter. Duality Advisers LP bought a new stake in Cognizant Technology Solutions during the 1st quarter worth approximately $1,687,000. Norden Group LLC acquired a new stake in Cognizant Technology Solutions during the 1st quarter valued at $233,000. Finally, Van ECK Associates Corp raised its position in Cognizant Technology Solutions by 15.4% in the 1st quarter. Van ECK Associates Corp now owns 147,345 shares of the information technology service provider’s stock valued at $10,799,000 after purchasing an additional 19,690 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Royal Bank of Canada boosted their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Barclays boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $77.44.

Cognizant Technology Solutions Stock Up 1.9 %

Shares of NASDAQ:CTSH opened at $75.94 on Friday. The company has a 50 day moving average price of $75.95 and a two-hundred day moving average price of $71.50. The company has a market capitalization of $37.64 billion, a PE ratio of 17.30, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $1.10 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Analysts forecast that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.58%. Cognizant Technology Solutions’s payout ratio is 27.33%.

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.