Barclays PLC Trims Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Barclays PLC lessened its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 1,876,774 shares of the information technology service provider’s stock after selling 87,181 shares during the quarter. Barclays PLC’s holdings in Cognizant Technology Solutions were worth $144,847,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $1,972,000. Daiwa Securities Group Inc. raised its holdings in Cognizant Technology Solutions by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock valued at $7,828,000 after acquiring an additional 11,349 shares during the last quarter. Trinity Legacy Partners LLC lifted its stake in shares of Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock worth $4,629,000 after purchasing an additional 7,547 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 5.9% during the third quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after purchasing an additional 6,626 shares during the last quarter. Finally, National Pension Service grew its position in shares of Cognizant Technology Solutions by 15.9% in the third quarter. National Pension Service now owns 907,902 shares of the information technology service provider’s stock valued at $70,072,000 after purchasing an additional 124,740 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.7 %

NASDAQ CTSH opened at $80.06 on Wednesday. The stock has a market cap of $39.70 billion, a P/E ratio of 17.71, a PEG ratio of 2.24 and a beta of 1.06. The company’s fifty day simple moving average is $77.95 and its 200-day simple moving average is $74.26. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion for 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 was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 EPS. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.50%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CTSH shares. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target for the company. Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.47.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions 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.