Harbour Trust & Investment Management Co Has $317,000 Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Harbour Trust & Investment Management Co lessened its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,663 shares of the information technology service provider’s stock after selling 677 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Cognizant Technology Solutions were worth $317,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CTSH. Vanguard Group Inc. raised its position in Cognizant Technology Solutions by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after purchasing an additional 7,445,089 shares during the last quarter. Norges Bank acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $406,360,000. Cibc World Markets Corp increased its position in Cognizant Technology Solutions by 1,861.7% in the 4th quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock valued at $127,389,000 after buying an additional 1,600,621 shares in the last quarter. KBC Group NV raised its stake in Cognizant Technology Solutions by 2,083.8% during the 4th quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock worth $107,473,000 after buying an additional 1,357,755 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Cognizant Technology Solutions by 129.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock worth $139,565,000 after acquiring an additional 1,073,666 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CTSH. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Barclays raised their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.06.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock traded down $0.35 on Thursday, reaching $76.27. 1,867,970 shares of the company traded hands, compared to its average volume of 4,076,074. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.35. The firm has a market capitalization of $37.92 billion, a PE ratio of 18.42, a PEG ratio of 2.26 and a beta of 1.05. The company has a 50 day moving average of $71.46 and a 200 day moving average of $71.59. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 earnings per share. Equities analysts forecast that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

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.