Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Sold by Boston Partners

Key Points

• Boston Partners has reduced its stake in Cognizant Technology Solutions Corporation by 2.2%, now owning approximately 3.33 million shares valued at $254.7 million.
• The company reported earnings of $1.31 per share for the recent quarter, exceeding analyst expectations, with revenues also surpassing forecasts at $5.25 billion.
• Cognizant announced a quarterly dividend of $0.31 per share, yielding 1.8%, and is expected to maintain a payout ratio of 25.2%.

Boston Partners reduced its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,330,771 shares of the information technology service provider's stock after selling 75,742 shares during the quarter. Boston Partners owned approximately 0.67% of Cognizant Technology Solutions worth $254,706,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $214,000. Raymond James Financial Inc. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $27,114,000. Townsquare Capital LLC lifted its position in Cognizant Technology Solutions by 10.3% during the 4th quarter. Townsquare Capital LLC now owns 22,840 shares of the information technology service provider's stock worth $1,756,000 after acquiring an additional 2,139 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $313,000. Finally, Summit Investment Advisors Inc. lifted its position in Cognizant Technology Solutions by 3.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 20,606 shares of the information technology service provider's stock worth $1,585,000 after acquiring an additional 671 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and raised their price target for the company from $77.00 to $90.00 in a report on Thursday, May 1st. Barclays reduced their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their price target on Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating for the company in a report on Monday, July 28th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus target price of $86.56.

Cognizant Technology Solutions Trading Up 0.9%

Shares of NASDAQ:CTSH traded up $0.63 during midday trading on Friday, reaching $70.00. The company's stock had a trading volume of 3,538,845 shares, compared to its average volume of 4,640,384. The firm has a market cap of $34.19 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.46 and a beta of 0.90. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 1 year low of $65.52 and a 1 year high of $90.82. The business has a 50 day moving average price of $75.88 and a 200 day moving average price of $77.95.

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 analysts' consensus estimates of $1.26 by $0.05. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. Research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a $0.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 25.20%.

About Cognizant Technology Solutions

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.