Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Holdings Lowered by Amalgamated Bank

Amalgamated Bank decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,517 shares of the information technology service provider’s stock after selling 4,174 shares during the quarter. Amalgamated Bank’s holdings in Cognizant Technology Solutions were worth $6,835,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CTSH. Vanguard Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after acquiring an additional 6,933,908 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after purchasing an additional 1,943,127 shares during the period. Boston Partners increased its stake in Cognizant Technology Solutions by 1.3% in the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after purchasing an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Cognizant Technology Solutions by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after buying an additional 94,209 shares during the period. Finally, Cibc World Market Inc. lifted its stake in Cognizant Technology Solutions by 19,850.5% during the second quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after buying an additional 3,000,996 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTSH. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Barclays increased their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Mizuho reiterated a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. Finally, Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.44.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $75.20 on Friday. 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 stock has a market capitalization of $37.39 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.27. The company has a 50 day moving average price of $75.32 and a two-hundred day moving average price of $71.45.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. The business 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 quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, equities analysts predict that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

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.