Cigna Investments Inc. New Sells 226 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cigna Investments Inc. New decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,099 shares of the information technology service provider’s stock after selling 226 shares during the quarter. Cigna Investments Inc. New’s holdings in Cognizant Technology Solutions were worth $394,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new position in Cognizant Technology Solutions in the second quarter worth $25,000. LRI Investments LLC bought a new position in Cognizant Technology Solutions during the first quarter valued at about $28,000. Pinnacle Bancorp Inc. increased its holdings in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. raised its position in 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 acquiring an additional 158 shares during the period. Finally, Eastern Bank purchased a new position in Cognizant Technology Solutions in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CTSH shares. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Barclays upped their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $77.70.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.0 %

Shares of CTSH stock opened at $74.61 on Friday. The business has a 50-day moving average price of $76.36 and a two-hundred day moving average price of $71.99. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.27. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The firm has a market cap of $36.98 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.37% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.61%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Cognizant Technology Solutions Company 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.