US Bancorp DE Cuts Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

US Bancorp DE lessened its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 33.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,709 shares of the information technology service provider’s stock after selling 42,966 shares during the quarter. US Bancorp DE’s holdings in Cognizant Technology Solutions were worth $6,208,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SP Asset Management LLC grew its holdings in shares of Cognizant Technology Solutions by 1.0% during the first quarter. SP Asset Management LLC now owns 47,359 shares of the information technology service provider’s stock worth $3,471,000 after buying an additional 481 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in Cognizant Technology Solutions by 158,125.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 6,329 shares of the information technology service provider’s stock valued at $464,000 after acquiring an additional 6,325 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Cognizant Technology Solutions by 1.5% in the 1st quarter. QRG Capital Management Inc. now owns 204,194 shares of the information technology service provider’s stock valued at $14,965,000 after acquiring an additional 3,070 shares during the last quarter. Delta Financial Advisors LLC lifted its stake in Cognizant Technology Solutions by 1.0% in the 1st quarter. Delta Financial Advisors LLC now owns 19,506 shares of the information technology service provider’s stock worth $1,430,000 after purchasing an additional 196 shares in the last quarter. Finally, Inspire Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions by 16.6% during the 1st quarter. Inspire Advisors LLC now owns 7,159 shares of the information technology service provider’s stock worth $525,000 after purchasing an additional 1,018 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Up 1.7 %

Cognizant Technology Solutions stock traded up $1.23 during mid-day trading on Wednesday, reaching $75.02. 1,237,272 shares of the company’s stock were exchanged, compared to its average volume of 4,057,298. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.09. The company has a market cap of $37.30 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.17 and a beta of 1.05. The company has a fifty day moving average of $67.72 and a 200-day moving average of $71.83.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the firm earned $1.11 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.61 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.60%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Mizuho restated a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. Citigroup decreased their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Evercore ISI raised their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $75.44.

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.