Corient Private Wealth LLC Sells 1,595 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Corient Private Wealth LLC cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,218 shares of the information technology service provider’s stock after selling 1,595 shares during the quarter. Corient Private Wealth LLC’s holdings in Cognizant Technology Solutions were worth $7,645,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CTSH. IFG Advisory LLC raised its stake in shares of Cognizant Technology Solutions by 45.1% in the fourth quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after acquiring an additional 20,874 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Cognizant Technology Solutions by 36.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock worth $83,145,000 after buying an additional 324,638 shares in the last quarter. PGGM Investments boosted its position in Cognizant Technology Solutions by 53.8% in the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock valued at $5,041,000 after buying an additional 26,035 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cognizant Technology Solutions by 7.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock valued at $39,242,000 after buying an additional 38,526 shares during the period. Finally, Merit Financial Group LLC raised its position in shares of Cognizant Technology Solutions by 16.8% during the fourth quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock worth $266,000 after acquiring an additional 508 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Mizuho assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price target for the company. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Finally, Citigroup reduced their price target on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $75.67.

Check Out Our Latest Report on Cognizant Technology Solutions

Insiders Place Their Bets

In related news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $68.32 on Monday. The company has a fifty day moving average price of $69.47 and a 200 day moving average price of $72.90. Cognizant Technology Solutions Co. has a 1-year low of $61.12 and a 1-year high of $80.09. The firm has a market cap of $33.97 billion, a PE ratio of 16.42, a PEG ratio of 2.04 and a beta of 1.08. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. Cognizant Technology Solutions’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. Research analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

Cognizant Technology Solutions Company Profile

(Free Report)

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.

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