Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. cut its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 19,816 shares of the information technology service provider’s stock after selling 299 shares during the period. Ameritas Investment Partners Inc.’s holdings in Cognizant Technology Solutions were worth $1,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its position in Cognizant Technology Solutions by 7.0% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,647 shares of the information technology service provider’s stock worth $266,000 after purchasing an additional 239 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at $242,000. LVW Advisors LLC lifted its stake in Cognizant Technology Solutions by 38.8% in the 4th quarter. LVW Advisors LLC now owns 5,363 shares of the information technology service provider’s stock worth $405,000 after acquiring an additional 1,499 shares in the last quarter. CVA Family Office LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $122,000. Finally, Pacer Advisors Inc. grew its stake in Cognizant Technology Solutions by 11.1% during the 4th quarter. Pacer Advisors Inc. now owns 59,368 shares of the information technology service provider’s stock valued at $4,484,000 after acquiring an additional 5,909 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on CTSH shares. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Barclays upped their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Susquehanna lowered their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their price target on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, BMO Capital Markets dropped their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.75.

Cognizant Technology Solutions Trading Down 1.6 %

CTSH stock traded down $1.17 during midday trading on Wednesday, hitting $72.72. 1,801,411 shares of the company’s stock were exchanged, compared to its average volume of 4,081,468. The company has a market cap of $36.16 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The stock’s fifty day moving average price is $68.46 and its 200-day moving average price is $71.86. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued 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 during the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the firm earned $1.11 EPS. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts predict that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

Cognizant Technology Solutions 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.