Cognizant Technology Solutions Corp (NASDAQ:CTSH)’s share price dropped 1.7% during trading on Friday . The company traded as low as $61.02 and last traded at $61.25. Approximately 1,815,295 shares traded hands during trading, a decline of 70% from the average daily volume of 6,113,191 shares. The stock had previously closed at $62.34.

CTSH has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Bank of America restated an “underperform” rating and set a $57.00 target price (down previously from $71.00) on shares of Cognizant Technology Solutions in a report on Monday, May 6th. Wells Fargo & Co downgraded Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $82.00 to $75.00 in a report on Tuesday, April 16th. Needham & Company LLC downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, UBS Group decreased their target price on Cognizant Technology Solutions from $76.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $75.55.

The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $35.49 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. Cognizant Technology Solutions’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 EPS. Equities analysts expect that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

In other news, CFO Karen Mcloughlin sold 1,500 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $62.85, for a total value of $94,275.00. Following the sale, the chief financial officer now directly owns 67,423 shares of the company’s stock, valued at $4,237,535.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Allen Shaheen sold 1,369 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $60.16, for a total value of $82,359.04. Following the completion of the sale, the executive vice president now directly owns 3,073 shares in the company, valued at $184,871.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,104 shares of company stock worth $1,526,535. Insiders own 0.56% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Premia Global Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the first quarter worth $31,000. Acima Private Wealth LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $29,000. Sontag Advisory LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $30,000. Somerset Trust Co grew its stake in shares of Cognizant Technology Solutions by 152.0% in the first quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 298 shares during the last quarter. Finally, Resources Investment Advisors Inc. boosted its position in shares of Cognizant Technology Solutions by 125.6% during the first quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 280 shares during the last quarter. 89.27% of the stock is currently owned by hedge funds and other institutional investors.

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Cognizant Technology Solutions Company Profile (NASDAQ:CTSH)

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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