Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Position Decreased by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 420,444 shares of the information technology service provider's stock after selling 16,211 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Cognizant Technology Solutions worth $32,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter worth about $36,000. CoreCap Advisors LLC grew its position in shares of 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 acquiring an additional 126 shares in the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $55,000. Loomis Sayles & Co. L P bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $56,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $66,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

CTSH stock traded down $0.06 during trading on Friday, hitting $76.67. The company had a trading volume of 2,549,932 shares, compared to its average volume of 2,941,872. The business has a 50 day moving average of $78.64 and a 200 day moving average of $78.72. The firm has a market capitalization of $37.79 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.77 and a beta of 0.96. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.73% and a return on equity of 16.73%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 EPS. As a group, research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company 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. This represents a $1.24 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Monday, May 19th. Cognizant Technology Solutions's payout ratio is currently 26.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price objective for the stock from $77.00 to $90.00 in a report on Thursday, May 1st. Evercore ISI initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target for the company. JPMorgan Chase & Co. raised shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $88.00 to $98.00 in a research report on Monday, May 19th. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Finally, Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price for the company in a research note on Friday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $86.18.

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.