Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Cairn Investment Group Inc.

Cairn Investment Group Inc. trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,217 shares of the information technology service provider’s stock after selling 395 shares during the quarter. Cognizant Technology Solutions makes up 2.3% of Cairn Investment Group Inc.’s portfolio, making the stock its 18th biggest holding. Cairn Investment Group Inc.’s holdings in Cognizant Technology Solutions were worth $3,974,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vision Capital Management Inc. lifted its position in shares of Cognizant Technology Solutions by 0.4% in 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 in the last quarter. Nilsine Partners LLC increased its stake 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 acquiring an additional 156 shares during the last quarter. Unison Advisors LLC increased its stake 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 acquiring an additional 172 shares during the last quarter. Valley National Advisers Inc. increased its stake 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 acquiring an additional 178 shares during the last quarter. Finally, Signaturefd LLC increased its stake 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 acquiring an additional 181 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH traded down $0.28 during midday trading on Thursday, reaching $68.02. The company’s stock had a trading volume of 422,314 shares, compared to its average volume of 4,062,474. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.09. The business’s 50 day moving average price is $67.11 and its two-hundred day moving average price is $72.40. The company has a market cap of $33.82 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.06 and a beta of 1.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the previous year, the business earned $1.11 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have commented on CTSH. Evercore ISI upped their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Susquehanna dropped their price target on 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. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Monday, June 10th. Finally, Guggenheim initiated coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average 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.