Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Signaturefd LLC

Signaturefd LLC decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,024 shares of the information technology service provider’s stock after selling 405 shares during the quarter. Signaturefd LLC’s holdings in Cognizant Technology Solutions were worth $546,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Unison Advisors LLC boosted its holdings in Cognizant Technology Solutions by 0.6% in the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after acquiring an additional 172 shares in the last quarter. Choate Investment Advisors increased its position in shares of Cognizant Technology Solutions by 0.4% in the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock valued at $3,558,000 after acquiring an additional 180 shares during the period. SP Asset Management LLC raised its stake in Cognizant Technology Solutions by 0.4% in the 4th quarter. SP Asset Management LLC now owns 46,878 shares of the information technology service provider’s stock worth $3,541,000 after acquiring an additional 186 shares during the last quarter. Lederer & Associates Investment Counsel CA lifted its position in Cognizant Technology Solutions by 1.5% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock worth $947,000 after acquiring an additional 190 shares during the period. Finally, Spire Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank of Canada lifted their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday. They set a “buy” rating and a $90.00 price target on the stock. Barclays boosted their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.61.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $77.77 on Friday. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.46. The stock has a 50 day moving average price of $72.79 and a 200 day moving average price of $71.59. The stock has a market cap of $38.67 billion, a PE ratio of 18.69, a P/E/G ratio of 2.26 and a beta of 1.05.

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

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Insider Activity

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

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.