Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 13.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 99,763 shares of the information technology service provider’s stock after selling 14,985 shares during the period. State of Alaska Department of Revenue’s holdings in Cognizant Technology Solutions were worth $7,311,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vision Capital Management Inc. boosted its stake in shares of Cognizant Technology Solutions by 0.4% during the fourth quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock valued at $2,916,000 after acquiring an additional 144 shares during the last quarter. Nilsine Partners LLC lifted its position in Cognizant Technology Solutions by 4.3% during the fourth quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock worth $284,000 after buying an additional 156 shares during the period. Unison Advisors LLC lifted its position in Cognizant Technology Solutions by 0.6% during the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after buying an additional 172 shares during the period. Valley National Advisers Inc. lifted its position in Cognizant Technology Solutions by 43.2% during the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after buying an additional 178 shares during the period. Finally, Signaturefd LLC lifted its position in Cognizant Technology Solutions by 2.5% during the fourth quarter. Signaturefd LLC now owns 7,376 shares of the information technology service provider’s stock worth $557,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH traded down $0.31 during mid-day trading on Wednesday, hitting $68.30. The stock had a trading volume of 1,230,286 shares, compared to its average volume of 4,114,777. The company has a market cap of $33.96 billion, a PE ratio of 16.42, a PEG ratio of 2.03 and a beta of 1.05. The company’s fifty day simple moving average is $67.14 and its two-hundred day simple moving average is $72.24. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. On average, equities analysts expect that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of research reports. BMO Capital Markets cut their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. Susquehanna cut their price objective on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Barclays lowered their target price on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Guggenheim started coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price for the company. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.44.

Cognizant Technology Solutions Company 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.