Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by American Trust

American Trust decreased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,286 shares of the information technology service provider’s stock after selling 317 shares during the quarter. American Trust’s holdings in Cognizant Technology Solutions were worth $295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Albion Financial Group UT grew its stake in Cognizant Technology Solutions by 1.0% during the fourth quarter. Albion Financial Group UT now owns 11,994 shares of the information technology service provider’s stock worth $1,064,000 after buying an additional 117 shares during the period. Concord Wealth Partners grew its stake in Cognizant Technology Solutions by 8.2% during the first quarter. Concord Wealth Partners now owns 1,826 shares of the information technology service provider’s stock worth $164,000 after buying an additional 138 shares during the period. AdvisorNet Financial Inc grew its stake in Cognizant Technology Solutions by 44.4% during the first quarter. AdvisorNet Financial Inc now owns 478 shares of the information technology service provider’s stock worth $43,000 after buying an additional 147 shares during the period. LaFleur & Godfrey LLC grew its stake in Cognizant Technology Solutions by 1.9% during the first quarter. LaFleur & Godfrey LLC now owns 7,950 shares of the information technology service provider’s stock worth $713,000 after buying an additional 150 shares during the period. Finally, Trust Asset Management LLC grew its stake in Cognizant Technology Solutions by 2.9% during the first quarter. Trust Asset Management LLC now owns 5,339 shares of the information technology service provider’s stock worth $479,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $65.44, for a total transaction of $285,841.92. Following the transaction, the director now owns 13,556 shares of the company’s stock, valued at approximately $887,104.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Stock Up 0.3 %

CTSH stock opened at $62.20 on Monday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a fifty-two week low of $60.84 and a fifty-two week high of $93.47. The firm’s 50-day simple moving average is $66.40 and its 200 day simple moving average is $74.65. The stock has a market cap of $32.21 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last released its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.09 by $0.05. The firm had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Cognizant Technology Solutions had a net margin of 11.74% and a return on equity of 19.36%. Cognizant Technology Solutions’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.55 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.08 annualized dividend and a yield of 1.74%. Cognizant Technology Solutions’s payout ratio is 25.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTSH. Citigroup decreased their target price on shares of Cognizant Technology Solutions from $88.00 to $77.00 in a research note on Thursday, July 28th. Cowen downgraded shares of Cognizant Technology Solutions to a “market perform” rating and decreased their target price for the company from $86.00 to $75.00 in a research note on Thursday, July 28th. Susquehanna reduced their price objective on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a research note on Thursday, July 28th. Susquehanna Bancshares dropped their target price on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a report on Thursday, July 28th. Finally, Morgan Stanley dropped their target price on shares of Cognizant Technology Solutions from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $83.63.

About Cognizant Technology Solutions

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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; Healthcare; Products and Resources; and Communications, Media and Technology.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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