Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 20,458 shares of the information technology service provider’s stock after selling 2,277 shares during the period. Trust Co. of Toledo NA OH’s holdings in Cognizant Technology Solutions were worth $1,579,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Benjamin Edwards Inc. boosted its position in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares during the period. Unison Advisors LLC boosted its position in Cognizant Technology Solutions by 0.6% during the 1st quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after purchasing an additional 172 shares during the period. Choate Investment Advisors boosted its position in Cognizant Technology Solutions by 0.4% during the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after purchasing an additional 180 shares during the period. Lederer & Associates Investment Counsel CA boosted its position in Cognizant Technology Solutions by 1.5% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock valued at $947,000 after buying an additional 190 shares during the last quarter. Finally, First Personal Financial Services boosted its position in Cognizant Technology Solutions by 0.6% in the 2nd quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock valued at $2,373,000 after buying an additional 195 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’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 completion of the sale, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $76.76 on Thursday. The firm’s 50 day moving average is $75.78 and its two-hundred day moving average is $71.37. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.27. The firm has a market capitalization of $38.16 billion, a P/E ratio of 18.45, a PEG ratio of 2.14 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business earned $1.10 earnings per share. Cognizant Technology Solutions’s revenue was down .7% compared to the same quarter last year. Analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Analyst Upgrades and Downgrades

CTSH has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. Robert W. Baird upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Barclays upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $77.44.

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.