Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,308 shares of the information technology service provider’s stock after selling 1,182 shares during the period. TD Private Client Wealth LLC’s holdings in Cognizant Technology Solutions were worth $1,254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTSH. Thrivent Financial for Lutherans grew its position in shares of Cognizant Technology Solutions by 17.8% during the third quarter. Thrivent Financial for Lutherans now owns 25,931 shares of the information technology service provider’s stock worth $2,001,000 after buying an additional 3,917 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Cognizant Technology Solutions in the third quarter valued at approximately $1,403,000. PNC Financial Services Group Inc. boosted its holdings in Cognizant Technology Solutions by 5.9% in the third quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock valued at $9,228,000 after purchasing an additional 6,626 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cognizant Technology Solutions in the third quarter valued at approximately $734,000. Finally, First Horizon Advisors Inc. boosted its holdings in Cognizant Technology Solutions by 5.0% in the third quarter. First Horizon Advisors Inc. now owns 5,638 shares of the information technology service provider’s stock valued at $435,000 after purchasing an additional 269 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 1.0 %

NASDAQ:CTSH opened at $76.42 on Friday. The stock has a fifty day moving average price of $82.66 and a two-hundred day moving average price of $79.45. The stock has a market capitalization of $37.80 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (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%. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.62%. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. UBS Group reduced their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Barclays boosted 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. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $83.71.

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.