Nilsine Partners LLC Sells 277 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nilsine Partners LLC lowered its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,479 shares of the information technology service provider’s stock after selling 277 shares during the quarter. Nilsine Partners LLC’s holdings in Cognizant Technology Solutions were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTSH. Vanguard Group Inc. increased its stake in Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after acquiring an additional 7,445,089 shares during the period. Norges Bank acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at about $406,360,000. JPMorgan Chase & Co. boosted its position in Cognizant Technology Solutions by 32.8% in the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after buying an additional 4,365,493 shares in the last quarter. Cibc World Markets Corp boosted its position in Cognizant Technology Solutions by 1,861.7% in the fourth quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock valued at $127,389,000 after buying an additional 1,600,621 shares in the last quarter. Finally, KBC Group NV boosted its position in Cognizant Technology Solutions by 2,083.8% in the fourth quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock valued at $107,473,000 after buying an additional 1,357,755 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 1.3 %

Shares of CTSH stock traded down $0.85 during trading hours on Tuesday, hitting $65.68. 3,857,823 shares of the company were exchanged, compared to its average volume of 4,285,505. The business has a 50 day moving average of $73.09 and a two-hundred day moving average of $72.56. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 52 week low of $58.47 and a 52 week high of $80.09. The company has a market capitalization of $32.70 billion, a PE ratio of 15.64, a PEG ratio of 1.53 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. Analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued 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 was Friday, February 16th. This represents a $1.20 annualized dividend and a yield of 1.83%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of recent analyst reports. Citigroup reduced 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 report on Monday, April 22nd. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. Guggenheim started coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price on the stock. Societe Generale reiterated a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. Finally, Mizuho started coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $75.63.

Insider Buying and Selling

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

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.