Wealth Enhancement Advisory Services LLC Sells 109,786 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 66.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,071 shares of the information technology service provider's stock after selling 109,786 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Cognizant Technology Solutions were worth $4,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $28,000. SBI Securities Co. Ltd. bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $36,000. Park Square Financial Group LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $36,000. CoreCap Advisors LLC raised its position in shares of 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. Finally, Pinney & Scofield Inc. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH traded up $0.15 during midday trading on Friday, reaching $77.74. 3,968,535 shares of the company's stock traded hands, compared to its average volume of 3,588,802. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. Cognizant Technology Solutions Corporation has a one year low of $65.52 and a one year high of $90.82. The company has a market cap of $38.32 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.75 and a beta of 0.98. The stock has a 50 day moving average of $78.00 and a 200 day moving average of $78.89.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its 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. The business had revenue of $5.12 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. As a group, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its board has approved a share repurchase plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a $0.31 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.60%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 26.11%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Susquehanna raised Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and upped their price target for the stock from $77.00 to $90.00 in a research note on Thursday, May 1st. Morgan Stanley decreased their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $88.00 to $98.00 in a report on Monday, May 19th. Finally, TD Securities lifted their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of "Hold" and an average target price of $85.00.

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.