By otakuyassine3@gmail.com 
Reinhart Partners LLC. cut its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,034 shares of the information technology service provider’s stock after selling 24,518 shares during the period. Reinhart Partners LLC.’s holdings in Cognizant Technology Solutions were worth $8,231,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in Cognizant Technology Solutions during the second quarter worth $537,000. BOKF NA lifted its position in Cognizant Technology Solutions by 21.5% during the second quarter. BOKF NA now owns 14,930 shares of the information technology service provider’s stock worth $1,015,000 after acquiring an additional 2,638 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Cognizant Technology Solutions during the second quarter worth approximately $40,000. Meeder Advisory Services Inc. grew its position in shares of Cognizant Technology Solutions by 31.0% in the second quarter. Meeder Advisory Services Inc. now owns 9,915 shares of the information technology service provider’s stock valued at $674,000 after purchasing an additional 2,348 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Cognizant Technology Solutions by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after buying an additional 94,209 shares during the period. 92.44% of the stock is owned by institutional investors.
Cognizant Technology Solutions Stock Up 1.0 %
Shares of Cognizant Technology Solutions stock traded up $0.77 during trading on Monday, reaching $76.09. 887,999 shares of the company traded hands, compared to its average volume of 2,300,307. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market capitalization of $37.73 billion, a PE ratio of 16.83, a P/E/G ratio of 2.24 and a beta of 1.07. The company has a 50 day moving average price of $79.02 and a 200-day moving average price of $76.24. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.46.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the business posted $1.16 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.
Cognizant Technology Solutions Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.58%. Cognizant Technology Solutions’s payout ratio is 26.55%.
Insider Activity
In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on CTSH. Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, December 31st. Finally, Robert W. Baird raised their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $81.19.
Read Our Latest Stock Analysis on CTSH
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.
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