True Wealth Design LLC Sells 236 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

True Wealth Design LLC cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.0% during the 4th quarter, Holdings Channel reports. The fund owned 11,633 shares of the information technology service provider’s stock after selling 236 shares during the period. True Wealth Design LLC’s holdings in Cognizant Technology Solutions were worth $879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Cognizant Technology Solutions by 32.8% during 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 during the last quarter. Northern Trust Corp raised its stake in Cognizant Technology Solutions by 5.0% during the third quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock valued at $418,467,000 after purchasing an additional 294,415 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cognizant Technology Solutions by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock worth $410,406,000 after buying an additional 238,551 shares in the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth about $406,360,000. Finally, National Bank of Canada FI lifted its holdings in shares of Cognizant Technology Solutions by 9.2% in the 4th quarter. National Bank of Canada FI now owns 4,769,110 shares of the information technology service provider’s stock valued at $354,822,000 after acquiring an additional 401,076 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.4 %

Shares of Cognizant Technology Solutions stock traded down $0.28 during trading on Tuesday, hitting $66.97. 2,044,873 shares of the stock traded hands, compared to its average volume of 4,124,093. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The firm has a market cap of $33.30 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The stock’s fifty day simple moving average is $67.83 and its 200 day simple moving average is $72.71. Cognizant Technology Solutions Co. has a 52-week low of $61.23 and a 52-week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS. On average, equities 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Mizuho restated a “neutral” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a research report on Tuesday. Evercore ISI boosted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and a consensus price target of $75.67.

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.