Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 478,805 shares of the information technology service provider's stock after selling 16,981 shares during the quarter. Los Angeles Capital Management LLC owned 0.10% of Cognizant Technology Solutions worth $36,164,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Robertson Stephens Wealth Management LLC increased its stake in Cognizant Technology Solutions by 101.3% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,219 shares of the information technology service provider's stock valued at $470,000 after purchasing an additional 3,129 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Cognizant Technology Solutions by 3.6% in the 4th quarter. First Trust Direct Indexing L.P. now owns 12,588 shares of the information technology service provider's stock valued at $951,000 after acquiring an additional 439 shares during the period. Andina Capital Management LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter worth $275,000. Hartford Funds Management Co LLC lifted its position in Cognizant Technology Solutions by 41.0% during the 4th quarter. Hartford Funds Management Co LLC now owns 11,408 shares of the information technology service provider's stock worth $862,000 after acquiring an additional 3,318 shares during the period. Finally, Van ECK Associates Corp grew its stake in Cognizant Technology Solutions by 7.4% during the 4th quarter. Van ECK Associates Corp now owns 127,655 shares of the information technology service provider's stock valued at $9,642,000 after purchasing an additional 8,819 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Insider Activity

In related news, EVP Kathryn Diaz sold 900 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

CTSH has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on Cognizant Technology Solutions from $81.00 to $74.00 and set a "neutral" rating for the company in a report on Thursday. Susquehanna decreased their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Thursday. Guggenheim started coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a "neutral" rating and a $80.00 price target on the stock. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 7th. Finally, Wedbush reiterated an "outperform" rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $75.63.

Cognizant Technology Solutions Stock Performance

Shares of CTSH traded down $0.02 during midday trading on Friday, reaching $66.25. 7,399,745 shares of the stock were exchanged, compared to its average volume of 4,378,565. The company has a market capitalization of $32.98 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. Cognizant Technology Solutions Co. has a twelve month low of $60.26 and a twelve month high of $80.09. The business's 50-day moving average price is $72.58 and its 200 day moving average price is $72.47.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.64% and a net margin of 10.84%. The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. On average, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. Cognizant Technology Solutions's dividend payout ratio is presently 28.85%.

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.

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