Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by PGGM Investments

PGGM Investments lowered its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 133,363 shares of the information technology service provider’s stock after selling 1,644 shares during the quarter. PGGM Investments’ holdings in Cognizant Technology Solutions were worth $9,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTSH. Unison Advisors LLC lifted 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 valued at $2,142,000 after buying an additional 172 shares during the period. Choate Investment Advisors increased its stake 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 valued at $3,558,000 after purchasing an additional 180 shares in the last quarter. Signaturefd LLC increased its stake 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 valued at $557,000 after purchasing an additional 181 shares in the last quarter. SP Asset Management LLC increased its stake in shares of Cognizant Technology Solutions by 0.4% in the 4th quarter. SP Asset Management LLC now owns 46,878 shares of the information technology service provider’s stock valued at $3,541,000 after purchasing an additional 186 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA increased its stake in shares of Cognizant Technology Solutions by 1.5% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock valued at $947,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTSH. The Goldman Sachs Group began coverage on Cognizant Technology Solutions in a research note on Monday, June 24th. They issued a “neutral” rating and a $72.00 price target for the company. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. Finally, Mizuho reiterated a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus target price of $76.06.

Cognizant Technology Solutions Trading Up 0.1 %

CTSH traded up $0.11 during trading hours on Wednesday, reaching $74.38. The company’s stock had a trading volume of 1,542,735 shares, compared to its average volume of 4,144,833. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The stock has a market cap of $36.98 billion, a PE ratio of 17.88, a P/E/G ratio of 2.26 and a beta of 1.05. The business’s 50-day moving average is $70.53 and its 200-day moving average is $71.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The firm’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.