Jacobi Capital Management LLC Sells 297 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Jacobi Capital Management LLC reduced its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,079 shares of the information technology service provider’s stock after selling 297 shares during the quarter. Jacobi Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $455,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in Cognizant Technology Solutions by 5.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,358 shares of the information technology service provider’s stock valued at $4,290,000 after purchasing an additional 2,380 shares during the last quarter. FDx Advisors Inc. increased its stake in Cognizant Technology Solutions by 7.0% during the 4th quarter. FDx Advisors Inc. now owns 18,307 shares of the information technology service provider’s stock worth $1,624,000 after acquiring an additional 1,195 shares during the period. AGF Investments Inc. increased its stake in shares of Cognizant Technology Solutions by 87.0% in the 4th quarter. AGF Investments Inc. now owns 4,488 shares of the information technology service provider’s stock valued at $398,000 after purchasing an additional 2,088 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Cognizant Technology Solutions by 3.2% in the 4th quarter. Fifth Third Bancorp now owns 103,146 shares of the information technology service provider’s stock valued at $9,151,000 after purchasing an additional 3,215 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Cognizant Technology Solutions by 4.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider’s stock valued at $266,000 after purchasing an additional 124 shares during the last quarter. 90.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTSH has been the topic of several recent research reports. Susquehanna Bancshares cut their price objective on Cognizant Technology Solutions from $100.00 to $98.00 in a report on Thursday, July 28th. Susquehanna decreased their target price on Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th. Cowen lowered Cognizant Technology Solutions to a “market perform” rating and decreased their target price for the company from $86.00 to $75.00 in a research report on Thursday, July 28th. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $75.00 to $65.00 and set an “equal weight” rating for the company in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. lowered Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $82.00 to $77.00 in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $84.79.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Andrew J. Stafford sold 5,867 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total value of $453,167.08. Following the transaction, the executive vice president now owns 5,872 shares in the company, valued at $453,553.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 5,687 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total transaction of $423,112.80. Following the sale, the director now owns 57,534 shares in the company, valued at $4,280,529.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew J. Stafford sold 5,867 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total value of $453,167.08. Following the sale, the executive vice president now owns 5,872 shares in the company, valued at approximately $453,553.28. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $68.72 on Friday. Cognizant Technology Solutions Co. has a twelve month low of $63.26 and a twelve month high of $93.47. The stock’s 50 day moving average price is $68.76 and its 200-day moving average price is $79.03. The company has a market capitalization of $35.58 billion, a PE ratio of 15.94, a PEG ratio of 1.38 and a beta of 1.05. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last announced its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the previous year, the business earned $0.99 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.54 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Friday, August 19th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.08 annualized dividend and a yield of 1.57%. Cognizant Technology Solutions’s payout ratio is 25.06%.

About Cognizant Technology Solutions

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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; Healthcare; 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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