Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,286 shares of the information technology service provider’s stock after selling 2,493 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Cognizant Technology Solutions were worth $928,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $26,000. NBC Securities Inc. acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at approximately $27,000. Valley National Advisers Inc. lifted its stake in Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $52,000. Finally, Exchange Traded Concepts LLC lifted its stake in Cognizant Technology Solutions by 26.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.0 %

NASDAQ:CTSH opened at $66.25 on Friday. The company has a market capitalization of $32.98 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 2.25, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 52-week low of $60.26 and a 52-week high of $80.09. The stock has a fifty day simple moving average of $72.31 and a 200-day simple moving average of $72.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the previous year, the company posted $1.11 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analysts Set New Price Targets

Several analysts have commented on CTSH shares. Evercore ISI lifted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their target price for the company from $70.00 to $85.00 in a report on Thursday, January 11th. Barclays cut their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday. Finally, StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $75.67.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

About Cognizant Technology Solutions

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.