Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 56.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,613 shares of the information technology service provider’s stock after selling 2,064 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Cognizant Technology Solutions were worth $124,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions by 13.6% in the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after acquiring an additional 6,933,908 shares during the period. Pzena Investment Management LLC raised its holdings in Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after purchasing an additional 1,943,127 shares during the period. Boston Partners boosted its position in Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after purchasing an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after purchasing an additional 94,209 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Cognizant Technology Solutions by 2.7% in the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after buying an additional 142,225 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.1 %

NASDAQ:CTSH traded up $0.06 on Wednesday, hitting $77.44. 445,649 shares of the stock were exchanged, compared to its average volume of 3,833,048. The stock has a market cap of $38.50 billion, a PE ratio of 18.62, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $76.15 and a 200-day moving average of $71.54.

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 the consensus estimate 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the business posted $1.10 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.55%. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays boosted 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 report on Tuesday, July 23rd. Finally, Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.44.

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.