MetLife Investment Management LLC Sells 3,708 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

MetLife Investment Management LLC cut its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,917 shares of the information technology service provider’s stock after selling 3,708 shares during the quarter. MetLife Investment Management LLC’s holdings in Cognizant Technology Solutions were worth $9,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CTSH. Addison Advisors LLC raised its stake in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions in the second quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $30,000. Finally, Pinnacle Bancorp Inc. grew its stake in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.4 %

CTSH stock opened at $80.75 on Friday. The company has a market capitalization of $40.04 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41. The company’s 50 day moving average price is $77.35 and its two-hundred day moving average price is $73.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the company earned $1.16 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Mizuho raised their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. Finally, TD Cowen upped their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.47.

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.