Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Position Trimmed by Brooklyn Investment Group

Brooklyn Investment Group decreased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 61.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,778 shares of the information technology service provider’s stock after selling 2,869 shares during the period. Brooklyn Investment Group’s holdings in Cognizant Technology Solutions were worth $137,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CTSH. Pinnacle Bancorp Inc. increased its stake in shares of 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 valued at $35,000 after acquiring an additional 146 shares during the period. Benjamin Edwards Inc. raised its holdings in Cognizant Technology Solutions by 42.1% during 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 in the last quarter. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Cognizant Technology Solutions by 32.5% during the third quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 193 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Cognizant Technology Solutions by 1.8% during the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CTSH shares. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Mizuho boosted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Trading Down 0.4 %

Cognizant Technology Solutions stock opened at $80.75 on Thursday. The company’s fifty day simple moving average is $77.24 and its 200-day simple moving average is $73.56. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.41. The stock has a market cap of $40.04 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.22 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the company posted $1.16 EPS. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

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.