Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC reduced its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,734 shares of the information technology service provider’s stock after selling 284 shares during the period. Ascent Wealth Partners LLC’s holdings in Cognizant Technology Solutions were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CTSH. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions during the second quarter worth $25,000. LRI Investments LLC acquired a new position in Cognizant Technology Solutions during the first quarter worth $28,000. Pinnacle Bancorp Inc. raised its position in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares during the period. Benjamin Edwards Inc. raised its position in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares during the period. Finally, Eastern Bank acquired a new position in Cognizant Technology Solutions during the third quarter worth $37,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Finally, Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $78.37.

Cognizant Technology Solutions Trading Up 0.7 %

CTSH stock traded up $0.58 during mid-day trading on Thursday, hitting $79.98. 157,807 shares of the company were exchanged, compared to its average volume of 3,810,503. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $39.64 billion, a P/E ratio of 17.57, a PEG ratio of 2.06 and a beta of 1.05. The business has a fifty day simple moving average of $76.33 and a 200-day simple moving average of $72.21. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.50%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

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.