Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,512 shares of the information technology service provider’s stock after selling 946 shares during the quarter. Tidal Investments LLC’s holdings in Cognizant Technology Solutions were worth $2,664,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $155,000. World Investment Advisors LLC raised its position in Cognizant Technology Solutions by 21.8% during the third quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider’s stock worth $435,000 after acquiring an additional 1,010 shares during the period. Tudor Financial Inc. purchased a new position in Cognizant Technology Solutions during the third quarter valued at $225,000. Unigestion Holding SA grew its position in shares of Cognizant Technology Solutions by 148.6% in the third quarter. Unigestion Holding SA now owns 10,256 shares of the information technology service provider’s stock valued at $792,000 after purchasing an additional 6,131 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Cognizant Technology Solutions by 118.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 271,533 shares of the information technology service provider’s stock worth $20,957,000 after purchasing an additional 147,511 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.4 %

CTSH opened at $80.06 on Monday. The stock has a market capitalization of $39.70 billion, a PE ratio of 17.71, a P/E/G ratio of 2.24 and a beta of 1.06. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The business’s 50 day moving average price is $78.25 and its 200 day moving average price is $74.63.

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

Cognizant Technology Solutions Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTSH shares. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. Royal Bank of Canada lifted their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Mizuho increased their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Finally, StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $79.47.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the business’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 sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.