US Bancorp DE Has $5.64 Million Stock Holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• US Bancorp DE has reduced its stake in Cognizant Technology Solutions by 7.5%, selling 6,022 shares and holding 73,759 shares worth approximately $5.64 million.
• Cognizant Technology Solutions' stock fell 1.9% to $69.90, with a market capitalization of $34.46 billion and a price-to-earnings ratio of 14.21.
• The company announced a quarterly dividend of $0.31, resulting in an annualized yield of 1.8%, with a dividend payout ratio of 25.20%.

US Bancorp DE reduced its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 7.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 73,759 shares of the information technology service provider's stock after selling 6,022 shares during the period. US Bancorp DE's holdings in Cognizant Technology Solutions were worth $5,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTSH. Park Square Financial Group LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $36,000. CoreCap Advisors LLC grew its position in shares of 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 period. Pinney & Scofield Inc. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $55,000. Optiver Holding B.V. bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $66,000. Finally, Golden State Wealth Management LLC grew its holdings in Cognizant Technology Solutions by 290.9% during the first quarter. Golden State Wealth Management LLC now owns 899 shares of the information technology service provider's stock valued at $69,000 after purchasing an additional 669 shares during the period. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 1.4%

Shares of NASDAQ:CTSH traded up $1.00 during midday trading on Wednesday, reaching $70.90. The company had a trading volume of 4,800,929 shares, compared to its average volume of 3,839,473. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82. The stock has a market cap of $34.95 billion, a PE ratio of 14.41, a P/E/G ratio of 1.48 and a beta of 0.90. 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 business's 50 day moving average price is $77.56 and its 200 day moving average price is $78.51.

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 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%. The business's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. Research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, August 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.7%. Cognizant Technology Solutions's payout ratio is currently 25.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating on the stock in a report on Monday, July 28th. Barclays dropped their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Evercore ISI assumed coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued an "outperform" rating and a $100.00 target price for the company. TD Securities raised 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. Finally, Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of "Hold" and a consensus price target 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.