Gulf International Bank UK Ltd Sells 1,763 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Gulf International Bank UK Ltd reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.2% during the third quarter, Holdings Channel reports. The fund owned 40,102 shares of the information technology service provider’s stock after selling 1,763 shares during the period. Gulf International Bank UK Ltd’s holdings in Cognizant Technology Solutions were worth $3,095,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CTSH. Norden Group LLC bought a new position in Cognizant Technology Solutions during the first quarter valued at approximately $233,000. Mediolanum International Funds Ltd bought a new position in Cognizant Technology Solutions during the first quarter valued at approximately $1,252,000. Manchester Capital Management LLC grew its holdings in shares of Cognizant Technology Solutions by 17.4% in the first quarter. Manchester Capital Management LLC now owns 1,491 shares of the information technology service provider’s stock worth $109,000 after purchasing an additional 221 shares during the last quarter. Duality Advisers LP bought a new position in shares of Cognizant Technology Solutions in the first quarter worth approximately $1,687,000. Finally, Empirical Finance LLC grew its holdings in shares of Cognizant Technology Solutions by 3.4% in the first quarter. Empirical Finance LLC now owns 18,697 shares of the information technology service provider’s stock worth $1,370,000 after purchasing an additional 611 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

CTSH opened at $79.40 on Thursday. The stock has a 50-day moving average price of $76.33 and a 200-day moving average price of $72.21. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market cap of $39.36 billion, a PE ratio of 17.57, a P/E/G ratio of 2.06 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTSH. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. raised their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $78.37.

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.