Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Simmons Bank

Simmons Bank trimmed its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,795 shares of the information technology service provider’s stock after selling 126 shares during the quarter. Simmons Bank’s holdings in Cognizant Technology Solutions were worth $1,138,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CTSH. Graypoint LLC boosted its position in shares of Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock worth $369,000 after buying an additional 134 shares during the period. Sandy Cove Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 3.2% in the fourth quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after buying an additional 135 shares during the period. Cidel Asset Management Inc. boosted its holdings in Cognizant Technology Solutions by 3.5% in the fourth quarter. Cidel Asset Management Inc. now owns 5,338 shares of the information technology service provider’s stock valued at $410,000 after purchasing an additional 182 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in Cognizant Technology Solutions by 2.1% in the fourth quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock valued at $669,000 after purchasing an additional 183 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Cognizant Technology Solutions by 7.7% in the fourth quarter. Allworth Financial LP now owns 2,617 shares of the information technology service provider’s stock valued at $207,000 after purchasing an additional 188 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Cognizant Technology Solutions Stock Down 0.8 %

CTSH stock opened at $84.15 on Thursday. The company has a market cap of $41.62 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82. The business’s 50-day simple moving average is $81.38 and its 200 day simple moving average is $78.84.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of analyst reports. UBS Group increased their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Robert W. Baird upped their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays upped their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Mizuho increased their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $83.67.

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.