Twin Capital Management Inc. Sells 682 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Twin Capital Management Inc. reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,176 shares of the information technology service provider’s stock after selling 682 shares during the quarter. Twin Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $2,581,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in Cognizant Technology Solutions in the third quarter valued at approximately $27,000. Parkside Financial Bank & Trust grew its holdings in Cognizant Technology Solutions by 33.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after acquiring an additional 158 shares during the period. Valley National Advisers Inc. grew its holdings in Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after acquiring an additional 178 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth $45,000. 92.44% of the stock is owned by institutional investors.

Insider Transactions at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Cognizant Technology Solutions Trading Down 0.6 %

Shares of Cognizant Technology Solutions stock traded down $0.43 during trading hours on Thursday, hitting $67.11. The company’s stock had a trading volume of 1,564,606 shares, compared to its average volume of 4,297,542. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The company has a market capitalization of $33.41 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The stock has a 50 day moving average of $74.87 and a 200 day moving average of $72.55. Cognizant Technology Solutions Co. has a 12 month low of $58.09 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.14. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. Cognizant Technology Solutions’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. Analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.30 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

A number of research firms recently commented on CTSH. Wedbush upped their price objective on Cognizant Technology Solutions from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, December 26th. Societe Generale reiterated a “sell” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Susquehanna reiterated a “neutral” rating and issued a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Royal Bank of Canada upped their price objective on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets dropped their price objective on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.65.

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.