Radnor Capital Management LLC Decreases Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Radnor Capital Management LLC decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,740 shares of the information technology service provider’s stock after selling 1,000 shares during the period. Radnor Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $1,826,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Cognizant Technology Solutions by 152.8% during the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after buying an additional 1,281,236 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after acquiring an additional 1,167,033 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Cognizant Technology Solutions by 146.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after purchasing an additional 978,579 shares in the last quarter. ING Groep NV raised its stake in shares of Cognizant Technology Solutions by 61.5% during the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after purchasing an additional 943,372 shares during the period. Finally, State Street Corp lifted its holdings in Cognizant Technology Solutions by 3.6% during the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after purchasing an additional 867,176 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $77.17 on Wednesday. The firm has a market cap of $38.26 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The company’s fifty day simple moving average is $79.09 and its two-hundred day simple moving average is $76.37. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the business earned $1.16 EPS. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTSH. TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Mizuho increased their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Robert W. Baird increased their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. Fifteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $81.19.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions 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 of the company’s stock, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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.