Sunbelt Securities Inc. Has $822,000 Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sunbelt Securities Inc. trimmed its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,222 shares of the information technology service provider’s stock after selling 1,488 shares during the period. Sunbelt Securities Inc.’s holdings in Cognizant Technology Solutions were worth $822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $26,000. Spire Wealth Management lifted its position in 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 buying an additional 193 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $40,000. Quarry LP purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $43,000. Finally, Valley National Advisers Inc. increased its stake 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 worth $44,000 after acquiring an additional 178 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $67.73 on Friday. 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 stock has a market cap of $33.68 billion, a P/E ratio of 16.28, a PEG ratio of 2.06 and a beta of 1.04. The company has a fifty day moving average price of $67.11 and a 200 day moving average price of $72.40. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter last year, the company earned $1.11 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were paid a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.77%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTSH. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price objective on the stock. Citigroup reduced their target price 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. Wedbush restated an “outperform” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. Finally, BMO Capital Markets reduced their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.44.

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.