Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by 1ST Source Bank

1ST Source Bank decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,761 shares of the information technology service provider’s stock after selling 886 shares during the quarter. 1ST Source Bank’s holdings in Cognizant Technology Solutions were worth $445,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CTSH. International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth about $1,972,000. Daiwa Securities Group Inc. grew its holdings in Cognizant Technology Solutions by 12.6% during the third quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock worth $7,828,000 after acquiring an additional 11,349 shares during the period. Trinity Legacy Partners LLC lifted its holdings in Cognizant Technology Solutions by 14.3% in the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after acquiring an additional 7,547 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Cognizant Technology Solutions by 5.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after purchasing an additional 6,626 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in Cognizant Technology Solutions by 3.5% during the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock valued at $91,678,000 after purchasing an additional 40,226 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Mizuho lifted their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.47.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of Cognizant Technology Solutions stock opened at $80.06 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 market capitalization of $39.70 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. The company has a 50-day simple moving average of $78.25 and a 200 day simple moving average of $74.52. 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 released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 EPS. Research analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.