Kintegral Advisory LLC Sells 3,633 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Kintegral Advisory LLC lessened its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,406 shares of the information technology service provider's stock after selling 3,633 shares during the quarter. Kintegral Advisory LLC's holdings in Cognizant Technology Solutions were worth $567,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Unison Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 0.4% in the fourth quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider's stock valued at $2,276,000 after purchasing an additional 114 shares in the last quarter. Congress Wealth Management LLC DE lifted its stake in Cognizant Technology Solutions by 0.5% in the 4th quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider's stock worth $1,920,000 after acquiring an additional 126 shares in the last quarter. CoreCap Advisors LLC lifted its stake in 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. Sound View Wealth Advisors Group LLC lifted its position in shares of Cognizant Technology Solutions by 4.6% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider's stock worth $222,000 after purchasing an additional 127 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 1.5% in 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 in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CTSH. Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. TD Securities increased their price objective on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Susquehanna upgraded 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 report on Thursday, May 1st. UBS Group cut their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, Barclays cut their price target on 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. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $85.00.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH traded down $0.52 during trading on Monday, reaching $80.46. The stock had a trading volume of 2,091,305 shares, compared to its average volume of 3,564,164. The firm has a market capitalization of $39.66 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.86 and a beta of 0.96. Cognizant Technology Solutions Corporation has a 52 week low of $65.52 and a 52 week high of $90.82. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $79.17 and a two-hundred day simple moving average of $78.83.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. The business had revenue of $5.12 billion for 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 for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its Board of Directors has initiated a share buyback program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

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 given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio is currently 26.11%.

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.