WEALTHFRONT Corp decreased its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 34.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,258 shares of the information technology service provider’s stock after selling 5,361 shares during the quarter. WEALTHFRONT Corp’s holdings in Cognizant Technology Solutions were worth $791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTSH. Willingdon Wealth Management acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $120,000. Fort L.P. acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $123,000. Johnson Financial Group Inc. grew its stake in shares of Cognizant Technology Solutions by 2,434.4% during the 3rd quarter. Johnson Financial Group Inc. now owns 1,622 shares of the information technology service provider’s stock worth $125,000 after purchasing an additional 1,558 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $134,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $146,000. 86.37% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions stock opened at $68.00 on Friday. Cognizant Technology Solutions Corp has a 1 year low of $65.14 and a 1 year high of $85.10. The firm has a market capitalization of $40.18 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.50 and a beta of 0.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.24 and a current ratio of 3.24.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Cognizant Technology Solutions Corp will post 4.18 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Tuesday, November 20th were paid a $0.20 dividend. The ex-dividend date was Monday, November 19th. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. Cognizant Technology Solutions’s dividend payout ratio is currently 22.66%.

A number of brokerages have recently commented on CTSH. Cowen cut shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 price objective on the stock. in a research note on Sunday, December 2nd. Goldman Sachs Group raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating in a research note on Monday, November 26th. BidaskClub raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $75.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, November 20th. Finally, Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, November 20th. They set a “hold” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $82.34.

In other Cognizant Technology Solutions news, insider Sean Middleton sold 439 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $76.28, for a total value of $33,486.92. Following the transaction, the insider now owns 5,135 shares in the company, valued at approximately $391,697.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Malcolm Frank sold 3,190 shares of the firm’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $70.48, for a total value of $224,831.20. Following the completion of the transaction, the vice president now owns 22,881 shares in the company, valued at approximately $1,612,652.88. The disclosure for this sale can be found here. Insiders sold a total of 15,506 shares of company stock worth $1,101,632 in the last three months. 0.60% of the stock is owned by corporate insiders.

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Cognizant Technology Solutions Company Profile

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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