Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by City Center Advisors LLC

City Center Advisors LLC decreased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 14.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,900 shares of the information technology service provider’s stock after selling 500 shares during the quarter. City Center Advisors LLC’s holdings in Cognizant Technology Solutions were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new stake in Cognizant Technology Solutions during the 2nd quarter worth $25,000. LRI Investments LLC purchased a new stake in Cognizant Technology Solutions during the 1st quarter worth $28,000. Benjamin Edwards Inc. increased its stake in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after buying an additional 158 shares during the period. Neo Ivy Capital Management purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth $40,000. Finally, Unique Wealth Strategies LLC purchased a new stake in Cognizant Technology Solutions during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.2 %

Cognizant Technology Solutions stock opened at $76.13 on Wednesday. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $75.92 and a two-hundred day moving average price of $71.40. The firm has a market capitalization of $37.85 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.14 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.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. Cognizant Technology Solutions’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. Sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Analyst Ratings Changes

CTSH has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. Barclays boosted their target price 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. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Finally, 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 report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.44.

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.