BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 64,299 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 8.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 666,339 shares of the information technology service provider’s stock after selling 64,299 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Cognizant Technology Solutions were worth $45,311,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CTSH. Vanguard Group Inc. raised its holdings in shares of Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after purchasing an additional 7,445,089 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Cognizant Technology Solutions by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock worth $39,242,000 after buying an additional 38,526 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of Cognizant Technology Solutions by 16.8% during the 4th quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock worth $266,000 after buying an additional 508 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Cognizant Technology Solutions by 2.5% in the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after buying an additional 412 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $1,786,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $77.77 on Friday. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.27. The stock’s 50-day simple moving average is $72.79 and its 200 day simple moving average is $71.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.46. The stock has a market capitalization of $38.67 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 earnings per share. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.65 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Insider Activity

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTSH shares. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday. Barclays boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research note on Wednesday. They set a “buy” rating and a $90.00 price target for the company. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $76.61.

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.