Brookstone Capital Management Sells 758 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Brookstone Capital Management lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,818 shares of the information technology service provider’s stock after selling 758 shares during the period. Brookstone Capital Management’s holdings in Cognizant Technology Solutions were worth $294,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CTSH. Addison Advisors LLC raised its position in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $30,000. Pinnacle Bancorp Inc. grew its stake in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the period. Benjamin Edwards Inc. grew its stake in shares of 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 valued at $36,000 after acquiring an additional 158 shares during the period. Finally, Eastern Bank bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $37,000. Institutional investors own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CTSH shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Robert W. Baird upped their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Mizuho raised their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $81.19.

Cognizant Technology Solutions Stock Up 0.5 %

Shares of NASDAQ CTSH opened at $77.81 on Friday. The stock has a market cap of $38.58 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. The business has a 50-day moving average price of $78.93 and a 200 day moving average price of $76.46. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

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.