First Hawaiian Bank Has $2.10 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

First Hawaiian Bank trimmed its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,933 shares of the information technology service provider’s stock after selling 2,183 shares during the quarter. First Hawaiian Bank’s holdings in Cognizant Technology Solutions were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nilsine Partners LLC boosted its holdings in Cognizant Technology Solutions by 4.3% during the fourth quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock valued at $284,000 after purchasing an additional 156 shares in the last quarter. Unison Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions by 0.6% in the 1st quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after acquiring an additional 172 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Cognizant Technology Solutions by 43.2% in 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 in the last quarter. Choate Investment Advisors boosted its holdings in shares of Cognizant Technology Solutions by 0.4% in the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after acquiring an additional 180 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Cognizant Technology Solutions by 2.5% in the 4th quarter. Signaturefd LLC now owns 7,376 shares of the information technology service provider’s stock worth $557,000 after acquiring an additional 181 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Cognizant Technology Solutions from $77.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Thursday. Susquehanna dropped their price objective on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Mizuho reiterated a “neutral” rating and set a $82.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. BMO Capital Markets dropped their target price on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Monday, June 10th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $76.12.

Cognizant Technology Solutions Stock Down 3.1 %

Shares of Cognizant Technology Solutions stock traded down $2.27 during trading hours on Monday, reaching $71.73. 5,956,321 shares of the company’s stock were exchanged, compared to its average volume of 4,164,611. The company has a 50 day moving average of $69.35 and a two-hundred day moving average of $71.82. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The stock has a market cap of $35.66 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.26 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business posted $1.10 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.65 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.67%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

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.