Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC trimmed its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,400 shares of the information technology service provider’s stock after selling 500 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Cognizant Technology Solutions were worth $1,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vision Capital Management Inc. grew its position in Cognizant Technology Solutions by 0.4% in the 4th quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock valued at $2,916,000 after acquiring an additional 144 shares in the last quarter. Nilsine Partners LLC grew its position in Cognizant Technology Solutions by 4.3% in the 4th quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock valued at $284,000 after acquiring an additional 156 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its position in Cognizant Technology Solutions by 5.4% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 3,241 shares of the information technology service provider’s stock valued at $220,000 after acquiring an additional 165 shares in the last quarter. Valley National Advisers Inc. grew its position in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares in the last quarter. Finally, Signaturefd LLC grew its position in Cognizant Technology Solutions by 2.5% in the 4th quarter. Signaturefd LLC now owns 7,376 shares of the information technology service provider’s stock valued at $557,000 after acquiring an additional 181 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTSH. Evercore ISI lifted their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. 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. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Mizuho started coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price objective for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.67.

View Our Latest Report on Cognizant Technology Solutions

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded down $0.15 on Monday, reaching $68.32. The stock had a trading volume of 1,860,100 shares, compared to its average volume of 4,206,120. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Co. has a 12-month low of $61.12 and a 12-month high of $80.09. The business’s 50-day moving average price is $69.47 and its 200 day moving average price is $72.90. The stock has a market cap of $33.97 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities analysts expect that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Insider Activity

In other news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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