Kathmere Capital Management LLC Reduces Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kathmere Capital Management LLC cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 18.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,049 shares of the information technology service provider’s stock after selling 888 shares during the quarter. Kathmere Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $306,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its holdings in shares of Cognizant Technology Solutions by 129.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,273,996 shares of the information technology service provider’s stock valued at $92,808,000 after purchasing an additional 718,980 shares in the last quarter. Boston Partners boosted its stake in shares of Cognizant Technology Solutions by 1.3% during the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after acquiring an additional 101,078 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Cognizant Technology Solutions by 186.4% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 125,168 shares of the information technology service provider’s stock valued at $9,173,000 after purchasing an additional 81,461 shares in the last quarter. Cetera Advisors LLC boosted its position in Cognizant Technology Solutions by 162.0% during the first quarter. Cetera Advisors LLC now owns 11,524 shares of the information technology service provider’s stock worth $845,000 after purchasing an additional 7,125 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Cognizant Technology Solutions by 135.4% in the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after purchasing an additional 19,157 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Trading Down 3.0 %

Cognizant Technology Solutions stock traded down $2.31 during midday trading on Friday, reaching $74.00. 4,043,723 shares of the stock traded hands, compared to its average volume of 4,397,573. The company has a 50-day simple moving average of $69.35 and a two-hundred day simple moving average of $71.85. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.27. The firm has a market cap of $36.79 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. Research analysts expect that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Susquehanna dropped their price target on shares of 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. reduced their price target on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. The Goldman Sachs Group assumed coverage on Cognizant Technology Solutions in a report on Monday, June 24th. They set a “neutral” rating and a $72.00 target price for the company. Finally, Royal Bank of Canada increased their price objective on Cognizant Technology Solutions from $77.00 to $81.00 and gave the company a “sector perform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.12.

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.