Plimoth Trust Co. LLC Sells 960 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Plimoth Trust Co. LLC lessened its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 17.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,606 shares of the information technology service provider’s stock after selling 960 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Cognizant Technology Solutions were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of CTSH. Turtle Creek Wealth Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $26,000. Spire Wealth Management grew 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 buying an additional 193 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $40,000. Quarry LP bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $43,000. Finally, Valley National Advisers Inc. grew 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 buying an additional 178 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CTSH shares. Susquehanna dropped their price target on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. BMO Capital Markets decreased their price objective on 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. Evercore ISI upped their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Barclays decreased their price objective on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.44.

Cognizant Technology Solutions Stock Down 0.5 %

Shares of CTSH opened at $68.30 on Thursday. 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 Co. has a 12 month low of $62.14 and a 12 month high of $80.09. The stock’s 50 day moving average is $67.14 and its two-hundred day moving average is $72.24. The firm has a market cap of $33.96 billion, a P/E ratio of 16.42, a PEG ratio of 2.03 and a beta of 1.05.

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. The business had revenue of $4.76 billion for 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 business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. Analysts predict that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were given a dividend of $0.30 per share. 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 1.76%. Cognizant Technology Solutions’s payout ratio 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.