Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lessened its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 18.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,365 shares of the information technology service provider’s stock after selling 760 shares during the period. Washington Trust Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTSH. Norges Bank acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $374,413,000. JPMorgan Chase & Co. lifted its position in shares of Cognizant Technology Solutions by 84.6% during the 1st quarter. JPMorgan Chase & Co. now owns 13,148,963 shares of the information technology service provider’s stock worth $801,166,000 after buying an additional 6,027,057 shares during the last quarter. BlackRock Inc. lifted its position in shares of Cognizant Technology Solutions by 3.7% during the 2nd quarter. BlackRock Inc. now owns 60,098,017 shares of the information technology service provider’s stock worth $3,923,199,000 after buying an additional 2,163,022 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Cognizant Technology Solutions by 69.3% during the 3rd quarter. National Bank of Canada FI now owns 4,368,034 shares of the information technology service provider’s stock worth $295,978,000 after buying an additional 1,788,329 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Cognizant Technology Solutions by 53.4% in the 4th quarter. Lazard Asset Management LLC now owns 3,551,475 shares of the information technology service provider’s stock valued at $203,107,000 after purchasing an additional 1,236,165 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.5 %

Cognizant Technology Solutions stock traded down $0.35 during mid-day trading on Thursday, reaching $73.27. The stock had a trading volume of 1,559,433 shares, compared to its average volume of 4,304,866. Cognizant Technology Solutions Co. has a fifty-two week low of $58.09 and a fifty-two week high of $80.09. The stock’s 50-day simple moving average is $76.93 and its 200-day simple moving average is $72.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a market capitalization of $36.48 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 EPS. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.64%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CTSH shares. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price objective for the company. Guggenheim began coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Citigroup lifted their price target on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Evercore ISI raised their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday. Finally, Wedbush upped their target price on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.38.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

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.