Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Simmons Bank

Simmons Bank trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 14,921 shares of the information technology service provider’s stock after selling 430 shares during the period. Simmons Bank’s holdings in Cognizant Technology Solutions were worth $1,152,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Haverford Trust Co purchased a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $200,000. Victory Capital Management Inc. boosted its position in shares of Cognizant Technology Solutions by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 953,775 shares of the information technology service provider’s stock valued at $73,612,000 after acquiring an additional 76,522 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $714,000. Versor Investments LP purchased a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $334,000. Finally, Delta Financial Advisors LLC increased its position in Cognizant Technology Solutions by 11.5% during the third quarter. Delta Financial Advisors LLC now owns 21,711 shares of the information technology service provider’s stock worth $1,676,000 after purchasing an additional 2,246 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $82.32 on Thursday. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The firm has a 50 day moving average of $76.64 and a two-hundred day moving average of $72.63. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.82 billion, a PE ratio of 18.21, a P/E/G ratio of 2.25 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.46%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTSH. TD Cowen increased their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Finally, Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.83.

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.