Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. cut its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,176 shares of the information technology service provider’s stock after selling 682 shares during the period. Twin Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $2,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at $26,000. NBC Securities Inc. purchased a new stake in Cognizant Technology Solutions during the 3rd quarter worth about $27,000. Parkside Financial Bank & Trust lifted its holdings in Cognizant Technology Solutions by 33.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after buying an additional 158 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after buying an additional 178 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth about $45,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of recent analyst reports. Mizuho initiated coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price target for the company. Citigroup lifted their price target on Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Evercore ISI boosted their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Societe Generale reissued a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Finally, Jefferies Financial Group raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their target price for the company from $70.00 to $85.00 in a report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.65.

Cognizant Technology Solutions Stock Performance

CTSH stock traded down $0.43 during trading on Thursday, hitting $67.11. The company had a trading volume of 1,564,606 shares, compared to its average volume of 4,297,542. The firm has a market cap of $33.41 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. Cognizant Technology Solutions Co. has a 1-year low of $58.09 and a 1-year high of $80.09. The firm has a 50-day moving average price of $74.87 and a 200-day moving average price of $72.55. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.14. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, analysts expect that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.30 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.20 annualized dividend and a yield of 1.79%. Cognizant Technology Solutions’s payout ratio is presently 28.57%.

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.