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

Cwm LLC reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,511 shares of the information technology service provider’s stock after selling 10,295 shares during the quarter. Cwm LLC’s holdings in Cognizant Technology Solutions were worth $5,754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $26,000. Spire Wealth Management boosted its position in shares of Cognizant Technology Solutions by 79.1% during 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 in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $40,000. Quarry LP acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $43,000. Finally, Valley National Advisers Inc. boosted its position in shares of Cognizant Technology Solutions by 43.2% during 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 in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTSH. Susquehanna decreased their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Barclays decreased their target price on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Mizuho reissued a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. Guggenheim began coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price for the company. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $75.67.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $65.81 on Thursday. The company has a market cap of $32.72 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The stock has a 50 day simple moving average of $67.13 and a 200-day simple moving average of $72.47. Cognizant Technology Solutions Co. has a 12-month low of $61.23 and a 12-month high of $80.09. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (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 return on equity of 17.48% and a net margin of 10.84%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.11 EPS. On average, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.61 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

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.