Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC lessened its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $36,000. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $36,000. CoreCap Advisors LLC increased 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 acquiring an additional 126 shares during the last quarter. Pinney & Scofield Inc. bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $55,000. Finally, Loomis Sayles & Co. L P bought a new position in Cognizant Technology Solutions in the fourth quarter valued at $56,000. Institutional investors own 92.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CTSH shares. Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $88.00 to $98.00 in a research note on Monday, May 19th. TD Securities raised their price objective on Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Guggenheim reiterated a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $85.00.

Cognizant Technology Solutions Stock Down 0.6%

NASDAQ CTSH traded down $0.51 on Monday, hitting $80.47. The stock had a trading volume of 1,132,691 shares, compared to its average volume of 3,560,586. The stock has a market cap of $39.67 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. Cognizant Technology Solutions Corporation has a 52-week low of $65.52 and a 52-week high of $90.82. The business's fifty day moving average price is $79.01 and its 200 day moving average price is $78.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The firm had revenue of $5.12 billion for 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 quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. Equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were given 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 1.54%. Cognizant Technology Solutions's dividend payout ratio is presently 26.11%.

Cognizant Technology Solutions declared that its board 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 typically a sign that the company's board of directors believes its stock is undervalued.

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.