Quotient Wealth Partners LLC Lowers Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Quotient Wealth Partners LLC reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,939 shares of the information technology service provider’s stock after selling 245 shares during the period. Quotient Wealth Partners LLC’s holdings in Cognizant Technology Solutions were worth $304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Cognizant Technology Solutions in the second quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at about $28,000. Benjamin Edwards Inc. lifted its stake in shares of Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $40,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Cognizant Technology Solutions in the second quarter valued at about $40,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CTSH shares. JPMorgan Chase & Co. raised their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Barclays lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price for the company. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $77.44.

Cognizant Technology Solutions Trading Down 3.0 %

CTSH opened at $74.50 on Friday. The stock has a market capitalization of $36.93 billion, a PE ratio of 16.97, a P/E/G ratio of 2.16 and a beta of 1.05. The firm’s fifty day moving average price is $75.95 and its 200 day moving average price is $71.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.61%. Cognizant Technology Solutions’s payout ratio is 27.33%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

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.