Sandy Spring Bank Sells 5,199 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sandy Spring Bank trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 50.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,115 shares of the information technology service provider’s stock after selling 5,199 shares during the quarter. Sandy Spring Bank’s holdings in Cognizant Technology Solutions were worth $346,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. CBOE Vest Financial LLC boosted its stake in shares of Cognizant Technology Solutions by 63.7% in the 3rd quarter. CBOE Vest Financial LLC now owns 131,383 shares of the information technology service provider’s stock worth $8,900,000 after buying an additional 51,129 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Cognizant Technology Solutions by 5.7% in the third quarter. First Trust Direct Indexing L.P. now owns 12,149 shares of the information technology service provider’s stock worth $823,000 after acquiring an additional 652 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Cognizant Technology Solutions by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 46,933 shares of the information technology service provider’s stock worth $3,179,000 after acquiring an additional 191 shares during the period. CHICAGO TRUST Co NA raised its position in Cognizant Technology Solutions by 4.2% in the third quarter. CHICAGO TRUST Co NA now owns 5,025 shares of the information technology service provider’s stock worth $340,000 after acquiring an additional 202 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its position in Cognizant Technology Solutions by 8.2% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,944 shares of the information technology service provider’s stock worth $403,000 after acquiring an additional 453 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Up 4.1 %

Shares of NASDAQ CTSH opened at $77.97 on Friday. The firm’s 50-day moving average price is $71.79 and its 200-day moving average price is $69.30. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $39.09 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.85 and a beta of 1.08. Cognizant Technology Solutions Co. has a 12-month low of $56.45 and a 12-month high of $78.42.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last announced its earnings results on Wednesday, November 1st. The information technology service provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.08. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Cognizant Technology Solutions had a net margin of 10.75% and a return on equity of 17.54%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.4 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Tuesday, November 21st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, November 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.22%.

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent research reports. BMO Capital Markets decreased their price target on shares of Cognizant Technology Solutions from $78.00 to $73.00 and set a “market perform” rating on the stock in a research report on Friday, November 3rd. Barclays raised shares of Cognizant Technology Solutions from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $61.00 to $75.00 in a report on Thursday, December 14th. JPMorgan Chase & Co. reduced their target price on shares of Cognizant Technology Solutions from $77.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Societe Generale reissued a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Finally, Redburn Atlantic started coverage on Cognizant Technology Solutions in a research note on Thursday, November 16th. They issued a “neutral” rating and a $68.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.35.

Read Our Latest Stock Analysis on CTSH

About Cognizant Technology Solutions

(Free Report)

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.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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