Ensign Peak Advisors Inc Sells 27,080 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Ensign Peak Advisors Inc lessened its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 37.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,507 shares of the information technology service provider’s stock after selling 27,080 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Cognizant Technology Solutions were worth $3,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $25,000. LRI Investments LLC purchased a new stake in Cognizant Technology Solutions in the first quarter worth approximately $28,000. Benjamin Edwards Inc. boosted its stake in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after buying an additional 158 shares in the last quarter. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Cognizant Technology Solutions during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $77.20 on Friday. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $75.53 and a two-hundred day simple moving average of $71.36. The firm has a market capitalization of $38.26 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.14 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. On average, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.55%. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTSH. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their target price for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Robert W. Baird raised their price objective on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. JPMorgan Chase & Co. increased their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.44.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

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.