Cognizant Technology Solutions Co. (NASDAQ:CTSH) Holdings Lowered by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,615 shares of the information technology service provider’s stock after selling 624 shares during the quarter. First Horizon Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $26,000. NBC Securities Inc. purchased a new position in Cognizant Technology Solutions during the 3rd quarter worth approximately $27,000. Valley National Advisers Inc. raised its stake 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 valued at $44,000 after purchasing an additional 178 shares during the period. Exchange Traded Concepts LLC raised its stake in Cognizant Technology Solutions by 26.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Buying and Selling

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were 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 owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Mizuho began coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price target on the stock. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target for the company. Evercore ISI boosted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.67.

Cognizant Technology Solutions Trading Down 0.0 %

Cognizant Technology Solutions stock opened at $66.25 on Friday. Cognizant Technology Solutions Co. has a one year low of $60.26 and a one year high of $80.09. The company’s fifty day moving average price is $72.31 and its two-hundred day moving average price is $72.46. The company has a market capitalization of $32.98 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the firm posted $1.11 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts forecast that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

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.