Davis R M Inc. Sells 2,132 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Davis R M Inc. cut its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 16.8% during the third quarter, Holdings Channel.com reports. The fund owned 10,551 shares of the information technology service provider’s stock after selling 2,132 shares during the period. Davis R M Inc.’s holdings in Cognizant Technology Solutions were worth $814,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in Cognizant Technology Solutions by 129.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock valued at $139,565,000 after purchasing an additional 1,073,666 shares during the period. Janus Henderson Group PLC grew its holdings in Cognizant Technology Solutions by 4.7% during the 1st quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock valued at $4,694,000 after buying an additional 2,907 shares in the last quarter. Dynasty Wealth Management LLC bought a new stake in shares of Cognizant Technology Solutions during the first quarter valued at approximately $680,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Cognizant Technology Solutions by 14.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock worth $385,000 after buying an additional 716 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Cognizant Technology Solutions by 0.5% during the first quarter. California State Teachers Retirement System now owns 817,227 shares of the information technology service provider’s stock worth $59,895,000 after acquiring an additional 4,165 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

CTSH opened at $80.63 on Tuesday. 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 business has a fifty day moving average of $77.03 and a 200 day moving average of $73.41. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The stock has a market cap of $39.98 billion, a P/E ratio of 17.84, a PEG ratio of 2.19 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during 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%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

Several brokerages have commented on CTSH. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada boosted their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.47.

Cognizant Technology Solutions 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.