AXS Investments LLC Decreases Stock Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• AXS Investments LLC has significantly reduced its stake in Cognizant Technology Solutions, slicing its holdings by 61.2% to about 15,859 shares worth approximately $1.21 million.
• Cognizant reported a quarterly EPS of $1.31 for the latest quarter, exceeding analysts' expectations and achieving an 8.1% increase in revenue year-over-year.
• The company has declared a $0.31 quarterly dividend, representing a 1.7% dividend yield and a payout ratio of 25.20%.

AXS Investments LLC cut its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 61.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,859 shares of the information technology service provider's stock after selling 25,050 shares during the quarter. AXS Investments LLC's holdings in Cognizant Technology Solutions were worth $1,213,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTSH. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth $36,000. CoreCap Advisors LLC raised its holdings in Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after purchasing an additional 126 shares in the last quarter. Pinney & Scofield Inc. bought a new position in Cognizant Technology Solutions in the 4th quarter worth $55,000. Optiver Holding B.V. bought a new position in Cognizant Technology Solutions in the 4th quarter worth $66,000. Finally, Golden State Wealth Management LLC raised its holdings in Cognizant Technology Solutions by 290.9% in the 1st quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock worth $69,000 after purchasing an additional 669 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $70.90 on Thursday. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The company's 50-day moving average is $77.37 and its 200 day moving average is $78.46. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. Cognizant Technology Solutions's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. Sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 18th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 25.20%.

Analyst Ratings Changes

Several brokerages have commented on CTSH. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Guggenheim raised shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Friday, July 18th. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their target price for the stock from $77.00 to $90.00 in a research report on Thursday, May 1st. Finally, TD Securities upped their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $85.88.

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.

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