Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 97.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 651 shares of the information technology service provider’s stock after selling 23,028 shares during the period. Strengthening Families & Communities LLC’s holdings in Cognizant Technology Solutions were worth $50,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at $1,972,000. Retirement Systems of Alabama grew its stake in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock valued at $91,678,000 after buying an additional 40,226 shares during the period. CGN Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $1,294,000. Matthews International Capital Management LLC grew its stake in shares of Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after buying an additional 17,134 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of Cognizant Technology Solutions by 12.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock valued at $7,828,000 after buying an additional 11,349 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTSH has been the subject of several research reports. TD Cowen boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Morgan Stanley upped their price target on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group upped their price target on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.67.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $86.96 on Tuesday. The firm has a market cap of $43.12 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07. The firm’s 50-day simple moving average is $79.55 and its 200-day simple moving average is $77.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.23 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 $87.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Equities analysts forecast that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 26.61%.

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.