Metis Global Partners LLC Sells 2,103 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Metis Global Partners LLC lowered its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,325 shares of the information technology service provider’s stock after selling 2,103 shares during the quarter. Metis Global Partners LLC’s holdings in Cognizant Technology Solutions were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $26,000. NBC Securities Inc. bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at $27,000. Valley National Advisers Inc. raised 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 valued at $44,000 after purchasing an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $52,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Cognizant Technology Solutions by 39.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 898 shares of the information technology service provider’s stock valued at $61,000 after purchasing an additional 255 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction dated 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 in the company, valued at $640,522.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

CTSH has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Guggenheim initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Susquehanna dropped their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $85.00 in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $67.72 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The firm’s 50-day simple moving average is $71.82 and its 200-day simple moving average is $72.57. Cognizant Technology Solutions Co. has a twelve month low of $60.26 and a twelve month high of $80.09. The firm has a market cap of $33.71 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the business earned $1.11 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts expect that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.77%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

About Cognizant Technology Solutions

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.