Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Holdings Trimmed by Cwm LLC

Cwm LLC lowered its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 88,806 shares of the information technology service provider’s stock after selling 3,479 shares during the period. Cwm LLC’s holdings in Cognizant Technology Solutions were worth $6,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Cognizant Technology Solutions by 4.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,806 shares of the information technology service provider’s stock valued at $3,686,000 after purchasing an additional 1,873 shares during the period. Signaturefd LLC increased its position in shares of Cognizant Technology Solutions by 2.5% during 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 during the period. Lindbrook Capital LLC increased its position in shares of Cognizant Technology Solutions by 27.7% during the 4th quarter. Lindbrook Capital LLC now owns 1,468 shares of the information technology service provider’s stock valued at $111,000 after purchasing an additional 318 shares during the period. abrdn plc increased its position in shares of Cognizant Technology Solutions by 60.6% during the 4th quarter. abrdn plc now owns 257,553 shares of the information technology service provider’s stock valued at $19,453,000 after purchasing an additional 97,134 shares during the period. Finally, Greenleaf Trust increased its position in shares of Cognizant Technology Solutions by 18.4% during the 4th quarter. Greenleaf Trust now owns 5,757 shares of the information technology service provider’s stock valued at $435,000 after purchasing an additional 896 shares during the period. Institutional investors own 92.44% of the company’s stock.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CTSH shares. Evercore ISI lifted their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Guggenheim assumed coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price target on the stock. BMO Capital Markets lowered their price target on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, February 7th. Mizuho assumed coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price target on the stock. Finally, Barclays lifted their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.44.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $68.20 on Tuesday. Cognizant Technology Solutions Co. has a twelve month low of $58.09 and a twelve month high of $80.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25. The stock has a market capitalization of $33.95 billion, a PE ratio of 16.24, a P/E/G ratio of 1.54 and a beta of 1.06. The stock has a 50-day simple moving average of $74.28 and a 200 day simple moving average of $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.76%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s payout ratio is currently 28.57%.

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.