Nisa Investment Advisors LLC Sells 5,675 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Nisa Investment Advisors LLC trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,443 shares of the information technology service provider's stock after selling 5,675 shares during the quarter. Nisa Investment Advisors LLC's holdings in Cognizant Technology Solutions were worth $15,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTSH. Unison Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 0.4% in the 4th quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider's stock valued at $2,276,000 after acquiring an additional 114 shares during the last quarter. Congress Wealth Management LLC DE raised its position in Cognizant Technology Solutions by 0.5% in the fourth quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider's stock valued at $1,920,000 after purchasing an additional 126 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of 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 purchasing an additional 126 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 1.5% during the fourth quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider's stock worth $704,000 after purchasing an additional 134 shares during the last quarter. Finally, Connecticut Wealth Management LLC increased its stake in shares of Cognizant Technology Solutions by 0.8% in the fourth quarter. Connecticut Wealth Management LLC now owns 17,650 shares of the information technology service provider's stock valued at $1,357,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 1.8%

NASDAQ:CTSH traded down $1.37 during trading hours on Friday, reaching $75.36. The company had a trading volume of 2,673,338 shares, compared to its average volume of 3,551,842. The business's 50-day simple moving average is $79.43 and its two-hundred day simple moving average is $78.81. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82. The firm has a market cap of $37.15 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.77 and a beta of 0.96. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. On average, equities analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.65%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.11%.

Cognizant Technology Solutions declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 25th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

CTSH has been the topic of a number of research reports. Barclays reduced their target price on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. TD Securities raised their target price on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. Finally, Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $85.00.

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.