Cognizant Technology Solutions Co. (NASDAQ:CTSH) Position Lessened by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 87.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 134,070 shares of the information technology service provider’s stock after selling 925,959 shares during the quarter. SG Americas Securities LLC’s holdings in Cognizant Technology Solutions were worth $10,310,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $1,972,000. Retirement Systems of Alabama grew its position in Cognizant Technology Solutions by 3.5% in the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after acquiring an additional 40,226 shares in the last quarter. CGN Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $1,294,000. Daiwa Securities Group Inc. raised its holdings in shares of Cognizant Technology Solutions by 12.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock valued at $7,828,000 after purchasing an additional 11,349 shares in the last quarter. Finally, Trinity Legacy Partners LLC lifted its stake in shares of Cognizant Technology Solutions by 14.3% in the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after purchasing an additional 7,547 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on CTSH shares. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho increased their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. TD Cowen boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.19.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $79.68 on Friday. The firm has a market capitalization of $39.51 billion, a PE ratio of 17.63, a PEG ratio of 2.05 and a beta of 1.07. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.46. The business’s 50 day moving average is $78.73 and its 200-day moving average is $76.73.

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

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.