Mutual of America Capital Management LLC Sells 2,592 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mutual of America Capital Management LLC trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,701 shares of the information technology service provider’s stock after selling 2,592 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $4,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC raised its holdings in Cognizant Technology Solutions by 107.0% in the second quarter. Denali Advisors LLC now owns 8,715 shares of the information technology service provider’s stock worth $593,000 after purchasing an additional 4,504 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Cognizant Technology Solutions by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after acquiring an additional 94,209 shares during the period. Stoneridge Investment Partners LLC bought a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at about $760,000. Dai ichi Life Insurance Company Ltd lifted its stake in shares of Cognizant Technology Solutions by 5.6% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 178,939 shares of the information technology service provider’s stock worth $12,168,000 after buying an additional 9,446 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Cognizant Technology Solutions by 9.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 60,793 shares of the information technology service provider’s stock worth $4,134,000 after buying an additional 5,031 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Up 0.6 %

NASDAQ:CTSH opened at $75.64 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27. The firm’s fifty day moving average is $75.40 and its 200-day moving average is $71.35. The firm has a market cap of $37.61 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.14 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released 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. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the company earned $1.10 EPS. Cognizant Technology Solutions’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’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 owns 46,427 shares in the company, valued at approximately $3,419,812.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on CTSH. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. 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 report on Tuesday, July 23rd. Mizuho reissued a “neutral” rating and set a $82.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. 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 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 report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $77.44.

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.