E Fund Management Co. Ltd. Sells 848 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

E Fund Management Co. Ltd. lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,516 shares of the information technology service provider’s stock after selling 848 shares during the period. E Fund Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in Cognizant Technology Solutions during the third quarter worth about $27,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. Valley National Advisers Inc. raised its holdings in shares of Cognizant Technology Solutions by 43.2% in 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 in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $52,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Trading Up 0.1 %

CTSH stock traded up $0.06 during midday trading on Wednesday, hitting $67.72. 4,578,207 shares of the company’s stock were exchanged, compared to its average volume of 4,343,420. The company has a market cap of $33.71 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The stock’s fifty day moving average price is $71.82 and its 200-day moving average price is $72.57. Cognizant Technology Solutions Co. has a one year low of $60.26 and a one year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. Research analysts predict that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.77%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

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 dated 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 of the company’s stock, valued at $640,522.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Mizuho assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price for the company. Citigroup decreased their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.67.

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.