Clark Estates Inc. NY Sells 9,440 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Clark Estates Inc. NY has decreased its stake in Cognizant Technology Solutions by 27.6%, now holding 24,721 shares valued at approximately $1.89 million.
• Several large investors are actively trading Cognizant's stock, with notable increases in stakes from Golden State Wealth Management and others amid fluctuating market conditions.
• Cognizant Technology Solutions is currently trading around $74.91 per share, with a consensus earnings target for the fiscal year projected at $4.98 EPS.

Clark Estates Inc. NY decreased its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 27.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,721 shares of the information technology service provider's stock after selling 9,440 shares during the period. Clark Estates Inc. NY's holdings in Cognizant Technology Solutions were worth $1,891,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. CoreCap Advisors LLC increased its holdings in Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after buying an additional 126 shares during the last quarter. Pinney & Scofield Inc. purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at approximately $55,000. Optiver Holding B.V. purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at approximately $66,000. Finally, Golden State Wealth Management LLC increased its holdings in Cognizant Technology Solutions by 290.9% during the first quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock valued at $69,000 after buying an additional 669 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH traded down $1.17 during midday trading on Friday, reaching $70.59. 5,356,605 shares of the company were exchanged, compared to its average volume of 3,446,974. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The company has a current ratio of 2.41, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The business's fifty day moving average is $78.10 and its two-hundred day moving average is $78.65. The stock has a market cap of $34.80 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released 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. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same quarter last year, the business earned $1.17 earnings per share. Cognizant Technology Solutions's quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, August 18th. This represents a $1.24 annualized dividend and a yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 25.20%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CTSH shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set a "hold" rating and a $80.00 target price for the company. Barclays reduced their price objective on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating for the company in a research note on Monday. Needham & Company LLC reissued a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Finally, Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and increased their price objective for the stock from $77.00 to $90.00 in a research note on Thursday, May 1st. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and an average price target 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.