Metis Global Partners LLC Has $1.23 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Metis Global Partners LLC lowered its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,325 shares of the information technology service provider’s stock after selling 2,103 shares during the period. Metis Global Partners LLC’s holdings in Cognizant Technology Solutions were worth $1,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $26,000. NBC Securities Inc. bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $27,000. Valley National Advisers Inc. boosted its holdings in shares of Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter worth $52,000. Finally, Jones Financial Companies Lllp increased its holdings in Cognizant Technology Solutions by 39.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 898 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 255 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.1 %

Shares of NASDAQ:CTSH opened at $67.72 on Thursday. Cognizant Technology Solutions Co. has a 1 year low of $60.26 and a 1 year high of $80.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The business’s 50-day moving average is $71.82 and its 200-day moving average is $72.57. The company has a market capitalization of $33.71 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 earnings per share. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTSH. Wedbush reissued an “outperform” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. Evercore ISI lifted their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Finally, Guggenheim started coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.67.

Cognizant Technology Solutions 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.