Lafayette Investments Inc. Sells 230 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Lafayette Investments Inc. trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,637 shares of the information technology service provider’s stock after selling 230 shares during the quarter. Lafayette Investments Inc.’s holdings in Cognizant Technology Solutions were worth $1,332,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $26,000. NBC Securities Inc. acquired a new stake in Cognizant Technology Solutions in the third quarter valued at approximately $27,000. Parkside Financial Bank & Trust boosted its position in Cognizant Technology Solutions by 33.5% in the second quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock valued at $41,000 after buying an additional 158 shares in the last quarter. Valley National Advisers Inc. boosted its position in Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 178 shares in the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $45,000. 92.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CTSH shares. Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Citigroup boosted their target price on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Guggenheim initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Societe Generale restated a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Finally, Susquehanna restated a “neutral” rating and issued a $80.00 target price (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $75.65.

Cognizant Technology Solutions Stock Up 0.0 %

Shares of NASDAQ:CTSH traded up $0.01 during midday trading on Friday, hitting $67.14. 1,588,282 shares of the company’s stock were exchanged, compared to its average volume of 4,301,653. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The stock has a 50 day moving average price of $74.64 and a 200-day moving average price of $72.51. The company has a market cap of $33.42 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. Cognizant Technology Solutions Co. has a 12 month low of $58.09 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, February 16th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 1.79%. Cognizant Technology Solutions’s payout ratio is 28.57%.

Insider Buying and Selling

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

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.