CENTRAL TRUST Co Lowers Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

CENTRAL TRUST Co reduced its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 66.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,625 shares of the information technology service provider’s stock after selling 3,190 shares during the quarter. CENTRAL TRUST Co’s holdings in Cognizant Technology Solutions were worth $125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Cognizant Technology Solutions by 3.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,420 shares of the information technology service provider’s stock worth $3,256,000 after purchasing an additional 1,650 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Cognizant Technology Solutions by 10.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,798 shares of the information technology service provider’s stock valued at $425,000 after acquiring an additional 547 shares in the last quarter. LVW Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 14.4% in the first quarter. LVW Advisors LLC now owns 6,137 shares of the information technology service provider’s stock worth $450,000 after acquiring an additional 774 shares during the last quarter. Denali Advisors LLC increased its position in shares of Cognizant Technology Solutions by 50.4% during the first quarter. Denali Advisors LLC now owns 4,211 shares of the information technology service provider’s stock worth $309,000 after purchasing an additional 1,411 shares in the last quarter. Finally, Albion Financial Group UT raised its stake in Cognizant Technology Solutions by 7.6% in the 1st quarter. Albion Financial Group UT now owns 13,197 shares of the information technology service provider’s stock valued at $967,000 after purchasing an additional 929 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Stock Down 0.1 %

NASDAQ:CTSH opened at $74.82 on Monday. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $76.50 and its two-hundred day moving average is $71.83. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.60%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CTSH. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Barclays increased their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.58.

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.