Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company reduced its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,387 shares of the information technology service provider’s stock after selling 374 shares during the period. Romano Brothers AND Company’s holdings in Cognizant Technology Solutions were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. raised its position in shares of Cognizant Technology Solutions by 29.9% in the 1st quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider’s stock valued at $58,000 after purchasing an additional 150 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Cognizant Technology Solutions by 24.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 854 shares of the information technology service provider’s stock valued at $52,000 after acquiring an additional 169 shares in the last quarter. Auxano Advisors LLC raised its position in shares of Cognizant Technology Solutions by 2.5% during the 1st quarter. Auxano Advisors LLC now owns 6,845 shares of the information technology service provider’s stock valued at $417,000 after acquiring an additional 170 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of Cognizant Technology Solutions by 8.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,541 shares of the information technology service provider’s stock valued at $227,000 after acquiring an additional 189 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Cognizant Technology Solutions by 3.6% during the 1st quarter. Evergreen Capital Management LLC now owns 5,460 shares of the information technology service provider’s stock valued at $490,000 after acquiring an additional 191 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

CTSH traded down $0.59 during trading on Tuesday, hitting $69.63. The company’s stock had a trading volume of 654,636 shares, compared to its average volume of 3,933,534. The firm’s 50 day moving average price is $69.35 and its two-hundred day moving average price is $64.33. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12 month low of $51.33 and a 12 month high of $72.71. The stock has a market capitalization of $35.17 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, August 2nd. The information technology service provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.13. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.84 billion. Cognizant Technology Solutions had a return on equity of 18.00% and a net margin of 11.31%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.41 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Monday, August 21st were issued a $0.29 dividend. The ex-dividend date was Friday, August 18th. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.04%.

Analyst Upgrades and Downgrades

CTSH has been the topic of several research reports. StockNews.com initiated coverage on Cognizant Technology Solutions in a research report on Thursday, August 17th. They set a “buy” rating on the stock. JPMorgan Chase & Co. raised Cognizant Technology Solutions from an “underweight” rating to a “neutral” rating and upped their price target for the company from $72.00 to $77.00 in a research report on Tuesday, August 22nd. BMO Capital Markets increased their target price on Cognizant Technology Solutions from $70.00 to $78.00 and gave the stock a “market perform” rating in a research report on Thursday, August 3rd. Royal Bank of Canada increased their target price on Cognizant Technology Solutions from $66.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 3rd. Finally, Barclays increased their price target on Cognizant Technology Solutions from $53.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 25th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $68.75.

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.