Los Angeles Capital Management LLC Sells 8,846 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Los Angeles Capital Management LLC reduced its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 6.4% during the 3rd quarter, Holdings Channel reports. The fund owned 129,330 shares of the information technology service provider’s stock after selling 8,846 shares during the period. Los Angeles Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $9,982,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $1,972,000. Blair William & Co. IL increased its holdings in shares of Cognizant Technology Solutions by 2.5% during the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after purchasing an additional 412 shares during the period. Trinity Legacy Partners LLC increased its holdings in shares of Cognizant Technology Solutions by 14.3% during the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock worth $4,629,000 after purchasing an additional 7,547 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Cognizant Technology Solutions by 8.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock worth $47,667,000 after purchasing an additional 53,061 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of Cognizant Technology Solutions by 135.4% during the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock worth $2,441,000 after purchasing an additional 19,157 shares during the period. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $81.50 on Tuesday. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $82.19. The firm has a fifty day simple moving average of $76.47 and a 200 day simple moving average of $72.42. The company has a market capitalization of $40.41 billion, a PE ratio of 18.03, a P/E/G ratio of 2.21 and a beta of 1.05. 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 (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm earned $1.16 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Analyst Ratings Changes

CTSH has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Finally, TD Cowen increased their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eighteen have given 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 target price of $78.83.

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.