Kapitalo Investimentos Ltda Lowers Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kapitalo Investimentos Ltda cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 25.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,806 shares of the information technology service provider’s stock after selling 943 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Cognizant Technology Solutions were worth $217,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CTSH. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions during the second quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in Cognizant Technology Solutions during the 1st quarter valued at $28,000. Pinnacle Bancorp Inc. increased its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. raised 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 worth $36,000 after purchasing an additional 158 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in shares of Cognizant Technology Solutions during the second quarter valued at $40,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Up 0.3 %

Shares of CTSH opened at $77.60 on Thursday. The business’s 50 day simple moving average is $76.24 and its 200-day simple moving average is $71.59. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a market capitalization of $38.58 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data 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 net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business earned $1.10 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down .7% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Royal Bank of Canada boosted their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.44.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.