Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Stake Cut by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. reduced its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 42.2% in the 1st quarter, Holdings Channel reports. The fund owned 4,334 shares of the information technology service provider’s stock after selling 3,170 shares during the period. Atria Wealth Solutions Inc.’s holdings in Cognizant Technology Solutions were worth $332,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Blair William & Co. IL increased its holdings in shares of Cognizant Technology Solutions by 3.3% during the 1st quarter. Blair William & Co. IL now owns 10,162 shares of the information technology service provider’s stock valued at $777,000 after acquiring an additional 326 shares during the last quarter. Banco Santander S.A. grew its holdings in Cognizant Technology Solutions by 17.7% in the 1st quarter. Banco Santander S.A. now owns 6,451 shares of the information technology service provider’s stock valued at $494,000 after buying an additional 971 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Cognizant Technology Solutions in the 1st quarter valued at approximately $742,000. Jefferies Financial Group Inc. acquired a new stake in Cognizant Technology Solutions in the 1st quarter valued at approximately $2,876,000. Finally, Foster & Motley Inc. grew its holdings in Cognizant Technology Solutions by 7.1% in the 1st quarter. Foster & Motley Inc. now owns 68,212 shares of the information technology service provider’s stock valued at $5,218,000 after buying an additional 4,542 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Trading Up 0.9%

Shares of CTSH opened at $70.00 on Friday. The stock has a fifty day moving average price of $75.88 and a two-hundred day moving average price of $77.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. Cognizant Technology Solutions Corporation has a 52-week low of $65.52 and a 52-week high of $90.82. The company has a market cap of $34.19 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.44 and a beta of 0.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a $0.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.24 annualized dividend and a yield of 1.8%. Cognizant Technology Solutions’s payout ratio is presently 25.20%.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of research analyst reports. Wall Street Zen lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Barclays reduced their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Evercore ISI started coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an “outperform” rating and a $100.00 price objective for the company. Finally, Susquehanna upgraded Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $86.56.

About Cognizant Technology Solutions

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.