Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Sold by Stevens Capital Management LP

Key Points

• Stevens Capital Management LP sold 6,479 shares of Cognizant Technology Solutions, reducing its stake by 61.0% to 4,135 shares worth $316,000 after the transaction.
• Cognizant Technology Solutions reported a 7.5% increase in revenue year-over-year, with Q1 earnings per share of $1.23, surpassing estimates by $0.03.
• The company declared a quarterly dividend of $0.31, yielding 1.62% annually, with a low payout ratio of 26.11%.

Stevens Capital Management LP cut its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 61.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,135 shares of the information technology service provider's stock after selling 6,479 shares during the quarter. Stevens Capital Management LP's holdings in Cognizant Technology Solutions were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Park Square Financial Group LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at $36,000. CoreCap Advisors LLC lifted its holdings in Cognizant Technology Solutions by 21.5% during the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after buying an additional 126 shares during the last quarter. Pinney & Scofield Inc. purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth about $55,000. Loomis Sayles & Co. L P purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth about $56,000. Finally, Optiver Holding B.V. purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth about $66,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

CTSH stock traded down $0.25 during trading on Wednesday, hitting $74.66. The company had a trading volume of 977,877 shares, compared to its average volume of 3,726,183. The firm has a market cap of $36.80 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.75 and a beta of 0.96. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82. The firm has a 50-day moving average price of $78.40 and a 200-day moving average price of $78.72. 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 quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The firm had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTSH. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating for the company in a report on Monday. 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 report on Friday, July 18th. TD Securities lifted their price target on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of "Hold" and an average price target of $85.88.

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.