Legacy Wealth Asset Management LLC Sells 212 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Legacy Wealth Asset Management LLC reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,859 shares of the information technology service provider’s stock after selling 212 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CTSH. Addison Advisors LLC grew its position in Cognizant Technology Solutions by 127.7% during the third 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 last quarter. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions during the third quarter valued at approximately $30,000. Pinnacle Bancorp Inc. grew 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 valued at $35,000 after acquiring an additional 146 shares during the last quarter. Benjamin Edwards Inc. grew 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 valued at $36,000 after acquiring an additional 158 shares during the last quarter. Finally, Eastern Bank bought a new position in Cognizant Technology Solutions during the third quarter valued at approximately $37,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $77.81 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $38.58 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.96 and a beta of 1.07. The business has a fifty day simple moving average of $78.98 and a two-hundred day simple moving average of $76.39. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.46.

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

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Mizuho raised their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $81.19.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value 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 $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

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.