Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Alhambra Investment Management LLC

Alhambra Investment Management LLC trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,525 shares of the information technology service provider’s stock after selling 770 shares during the quarter. Alhambra Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC lifted its stake in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions in the third quarter valued at $30,000. Pinnacle Bancorp Inc. raised its stake in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. grew its holdings 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 in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $77.81 on Friday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.46. The firm has a market capitalization of $38.58 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. The business has a 50 day simple moving average of $78.98 and a 200-day simple moving average of $76.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. Equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.54%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Mizuho raised their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $81.19.

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.