Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Stock Holdings Reduced by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its holdings in Cognizant Technology Solutions Corporation by 59.0% during the first quarter, selling 38,892 shares and bringing its total to 27,077 shares valued at approximately $2.07 million.
• Cognizant reported strong quarterly earnings, with $1.31 EPS beating expectations and 8.1% year-over-year revenue growth, totaling $5.25 billion for the quarter.
• The company declared a quarterly dividend of $0.31, with an annualized yield of 1.8% and a payout ratio of 25.20%.

Alberta Investment Management Corp lowered its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 59.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,077 shares of the information technology service provider's stock after selling 38,892 shares during the quarter. Alberta Investment Management Corp's holdings in Cognizant Technology Solutions were worth $2,071,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CoreCap Advisors LLC grew its stake in Cognizant Technology Solutions by 21.5% in 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. Connecticut Wealth Management LLC lifted its position 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 worth $1,357,000 after buying an additional 138 shares during the last quarter. Covestor Ltd lifted its position in shares of Cognizant Technology Solutions by 3.3% in the fourth quarter. Covestor Ltd now owns 4,389 shares of the information technology service provider's stock worth $338,000 after buying an additional 139 shares during the last quarter. Conning Inc. lifted its position in shares of Cognizant Technology Solutions by 4.4% in the first quarter. Conning Inc. now owns 3,547 shares of the information technology service provider's stock worth $271,000 after buying an additional 149 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Cognizant Technology Solutions by 1.7% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider's stock worth $668,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Trading Down 1.6%

Cognizant Technology Solutions stock opened at $70.59 on Monday. The business has a 50 day moving average price of $77.93 and a two-hundred day moving average price of $78.62. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. The stock has a market cap of $34.80 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.47 and a beta of 0.90. Cognizant Technology Solutions Corporation has a 12 month low of $65.52 and a 12 month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. As a group, equities analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. 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 research report on Monday, July 28th. TD Securities boosted their price target 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. Wall Street Zen cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday. Evercore ISI assumed coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price target for the company. Finally, Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a research report on Friday, July 18th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $85.88.

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.

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