US Bancorp DE Decreases Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

US Bancorp DE lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,579 shares of the information technology service provider’s stock after selling 989 shares during the period. US Bancorp DE’s holdings in Cognizant Technology Solutions were worth $6,296,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blair William & Co. IL increased its holdings in shares of Cognizant Technology Solutions by 2.5% in the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after purchasing an additional 412 shares during the last quarter. Duality Advisers LP acquired a new position in shares of Cognizant Technology Solutions during the 1st quarter valued at about $1,687,000. Norden Group LLC acquired a new position in shares of Cognizant Technology Solutions during the 1st quarter valued at about $233,000. State Board of Administration of Florida Retirement System increased its position in Cognizant Technology Solutions by 8.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock worth $47,667,000 after purchasing an additional 53,061 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Cognizant Technology Solutions by 135.4% during the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock worth $2,441,000 after purchasing an additional 19,157 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s 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 transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CTSH shares. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price target for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, TD Cowen increased their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $78.37.

Cognizant Technology Solutions Trading Up 0.0 %

NASDAQ:CTSH opened at $74.61 on Monday. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The stock has a market cap of $36.98 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.08 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.46 and a current ratio of 2.23. The stock has a 50-day simple moving average of $76.36 and a 200-day simple moving average of $72.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, analysts anticipate that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

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.