Peoples Bank KS Sells 195 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Peoples Bank KS cut its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 8.5% during the first quarter, HoldingsChannel.com reports. The firm owned 2,110 shares of the information technology service provider’s stock after selling 195 shares during the period. Peoples Bank KS’s holdings in Cognizant Technology Solutions were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. IFG Advisory LLC lifted its stake in Cognizant Technology Solutions by 45.1% during the fourth quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after purchasing an additional 20,874 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Cognizant Technology Solutions by 36.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock worth $83,145,000 after buying an additional 324,638 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Cognizant Technology Solutions by 7.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock valued at $39,242,000 after buying an additional 38,526 shares in the last quarter. Merit Financial Group LLC grew its position in Cognizant Technology Solutions by 16.8% in the fourth quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock valued at $266,000 after acquiring an additional 508 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $1,786,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTSH has been the topic of several recent analyst reports. BMO Capital Markets reduced 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 research note on Tuesday, April 30th. Susquehanna reduced their price target on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price objective for the company. Citigroup cut their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.67.

View Our Latest Research Report on CTSH

Cognizant Technology Solutions Trading Up 0.4 %

Shares of NASDAQ CTSH traded up $0.29 during midday trading on Tuesday, hitting $65.81. The stock had a trading volume of 3,369,646 shares, compared to its average volume of 4,093,615. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. Cognizant Technology Solutions Co. has a fifty-two week low of $61.23 and a fifty-two week high of $80.09. The firm has a market cap of $32.72 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. The company’s 50-day simple moving average is $67.22 and its 200 day simple moving average is $72.52.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 EPS. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Cognizant Technology Solutions Company 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.

See Also

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report).

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

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