iSAM Funds UK Ltd Sells 6,834 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

iSAM Funds UK Ltd reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 53.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,032 shares of the information technology service provider’s stock after selling 6,834 shares during the quarter. iSAM Funds UK Ltd’s holdings in Cognizant Technology Solutions were worth $466,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $684,000. Insigneo Advisory Services LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $351,000. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $238,000. Sora Investors LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $10,481,000. Finally, State Street Corp grew its stake in shares of Cognizant Technology Solutions by 3.6% during the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after buying an additional 867,176 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $81.14 on Friday. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.41. The stock has a fifty day moving average price of $77.88 and a 200-day moving average price of $74.14. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market cap of $40.23 billion, a PE ratio of 17.95, a P/E/G ratio of 2.22 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CTSH shares. JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Finally, Mizuho boosted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions 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.