Pitcairn Co. Sells 974 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Pitcairn Co. decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,137 shares of the information technology service provider’s stock after selling 974 shares during the quarter. Pitcairn Co.’s holdings in Cognizant Technology Solutions were worth $551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTSH. Price T Rowe Associates Inc. MD grew its holdings in Cognizant Technology Solutions by 129.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock worth $139,565,000 after acquiring an additional 1,073,666 shares during the period. Janus Henderson Group PLC increased its holdings in Cognizant Technology Solutions by 4.7% in the first quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock worth $4,694,000 after purchasing an additional 2,907 shares in the last quarter. Dynasty Wealth Management LLC acquired a new position in Cognizant Technology Solutions in the first quarter valued at approximately $680,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Cognizant Technology Solutions by 14.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock worth $385,000 after buying an additional 716 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Cognizant Technology Solutions by 0.5% during the 1st quarter. California State Teachers Retirement System now owns 817,227 shares of the information technology service provider’s stock worth $59,895,000 after buying an additional 4,165 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 1.4 %

Shares of NASDAQ:CTSH opened at $80.63 on Tuesday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.41. The company has a market capitalization of $39.98 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05. The business has a fifty day moving average price of $77.03 and a two-hundred day moving average price of $73.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

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

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

A number of research firms recently issued reports on CTSH. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective on the stock. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Mizuho raised their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.47.

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.