Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Huntington National Bank

Huntington National Bank reduced its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,506 shares of the information technology service provider’s stock after selling 356 shares during the quarter. Huntington National Bank’s holdings in Cognizant Technology Solutions were worth $502,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Avantax Advisory Services Inc. grew its stake in shares of Cognizant Technology Solutions by 5.6% in the first quarter. Avantax Advisory Services Inc. now owns 5,702 shares of the information technology service provider’s stock valued at $418,000 after buying an additional 302 shares in the last quarter. Blair William & Co. IL lifted its position 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 13.6% in the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Cognizant Technology Solutions in the first quarter valued at approximately $563,000. Finally, UniSuper Management Pty Ltd increased its stake in Cognizant Technology Solutions by 26.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 76,304 shares of the information technology service provider’s stock worth $5,592,000 after buying an additional 15,741 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 4.5 %

CTSH stock opened at $77.11 on Friday. The company has a market cap of $38.23 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The company has a fifty day moving average price of $76.85 and a 200 day moving average price of $72.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating 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 analysts’ expectations of $4.99 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

Wall Street Analyst Weigh In

CTSH has been the subject of several research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Barclays boosted their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, Mizuho boosted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.47.

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.