Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by American International Group Inc.

American International Group Inc. decreased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 194,108 shares of the information technology service provider’s stock after selling 3,013 shares during the period. American International Group Inc.’s holdings in Cognizant Technology Solutions were worth $14,226,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CTSH. Dynamic Advisor Solutions LLC lifted its position in shares of Cognizant Technology Solutions by 7.0% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,647 shares of the information technology service provider’s stock worth $266,000 after purchasing an additional 239 shares during the last quarter. Premier Path Wealth Partners LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $242,000. CVA Family Office LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $122,000. Pacer Advisors Inc. lifted its holdings in Cognizant Technology Solutions by 11.1% in the fourth quarter. Pacer Advisors Inc. now owns 59,368 shares of the information technology service provider’s stock worth $4,484,000 after acquiring an additional 5,909 shares during the last quarter. Finally, Alhambra Investment Management LLC lifted its holdings in Cognizant Technology Solutions by 2.6% in the fourth quarter. Alhambra Investment Management LLC now owns 14,014 shares of the information technology service provider’s stock worth $1,058,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH traded up $1.52 during mid-day trading on Thursday, reaching $74.21. 1,220,846 shares of the company traded hands, compared to its average volume of 4,077,472. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week 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 firm has a market cap of $36.90 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. The stock has a fifty day simple moving average of $68.54 and a 200-day simple moving average of $71.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping 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 net margin of 10.84% and a return on equity of 17.48%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 earnings per share. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.62%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of recent research reports. Susquehanna cut their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Barclays raised their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Cognizant Technology Solutions in a report on Monday, June 24th. They issued a “neutral” rating and a $72.00 target price on the stock. BMO Capital Markets cut their target price on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Finally, Wedbush restated an “outperform” rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $75.75.

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.