US Bancorp DE Sells 2,123 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

US Bancorp DE lessened its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 131,818 shares of the information technology service provider’s stock after selling 2,123 shares during the period. US Bancorp DE’s holdings in Cognizant Technology Solutions were worth $8,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its position in Cognizant Technology Solutions by 272.1% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 573 shares of the information technology service provider’s stock valued at $37,000 after acquiring an additional 419 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Cognizant Technology Solutions by 33.5% during the second quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after buying an additional 158 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Cognizant Technology Solutions by 1,025.4% during the second quarter. Capital Advisors Ltd. LLC now owns 664 shares of the information technology service provider’s stock worth $43,000 after buying an additional 605 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $45,000. Finally, Money Concepts Capital Corp boosted its stake in Cognizant Technology Solutions by 42.6% during the fourth quarter. Money Concepts Capital Corp now owns 854 shares of the information technology service provider’s stock worth $49,000 after acquiring an additional 255 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CTSH shares. Morgan Stanley dropped their price objective on shares of Cognizant Technology Solutions from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Barclays raised their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday. Societe Generale reissued a “sell” rating and set a $67.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. Finally, Redburn Atlantic began coverage on shares of Cognizant Technology Solutions in a report on Thursday, November 16th. They set a “neutral” rating and a $68.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.06.

View Our Latest Analysis on Cognizant Technology Solutions

Cognizant Technology Solutions Price Performance

CTSH traded down $1.09 during trading hours on Friday, hitting $77.21. The company’s stock had a trading volume of 1,335,785 shares, compared to its average volume of 3,743,067. The stock has a market cap of $38.71 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.90 and a beta of 1.08. The business’s 50-day moving average price is $73.66 and its 200-day moving average price is $70.06. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12 month low of $56.45 and a 12 month high of $78.89.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Cognizant Technology Solutions had a net margin of 10.75% and a return on equity of 17.54%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.91 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.4 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Tuesday, November 21st were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, November 20th. Cognizant Technology Solutions’s payout ratio is 28.22%.

Cognizant Technology Solutions Profile

(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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