Savant Capital LLC Reduces Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Savant Capital LLC cut its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,073 shares of the information technology service provider’s stock after selling 167 shares during the period. Savant Capital LLC’s holdings in Cognizant Technology Solutions were worth $308,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $26,000. NBC Securities Inc. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $27,000. Valley National Advisers Inc. grew its holdings in shares of Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 178 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $52,000. Finally, Jones Financial Companies Lllp boosted its stake in Cognizant Technology Solutions by 39.7% during the third quarter. Jones Financial Companies Lllp now owns 898 shares of the information technology service provider’s stock worth $61,000 after buying an additional 255 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $66.42 on Tuesday. The firm has a market capitalization of $33.07 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 52 week low of $60.26 and a 52 week high of $80.09. The firm’s 50 day moving average is $72.05 and its two-hundred day moving average is $72.55.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the previous year, the company earned $1.11 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Analysts Set New Price Targets

Several analysts recently weighed in on CTSH shares. Barclays dropped their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. decreased their target price on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Mizuho initiated coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price for the company. BMO Capital Markets reduced their price target on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $85.00 in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $75.67.

Insider Activity

In other news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.