Signaturefd LLC Sells 422 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Signaturefd LLC reduced its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,602 shares of the information technology service provider’s stock after selling 422 shares during the quarter. Signaturefd LLC’s holdings in Cognizant Technology Solutions were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its stake in Cognizant Technology Solutions by 3.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,420 shares of the information technology service provider’s stock valued at $3,256,000 after acquiring an additional 1,650 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Cognizant Technology Solutions in the 1st quarter worth $2,697,000. Kathmere Capital Management LLC grew its stake in shares of Cognizant Technology Solutions by 21.9% during the first quarter. Kathmere Capital Management LLC now owns 4,937 shares of the information technology service provider’s stock worth $362,000 after purchasing an additional 888 shares during the period. New England Research & Management Inc. bought a new stake in Cognizant Technology Solutions in the first quarter valued at about $852,000. Finally, Toth Financial Advisory Corp lifted its stake in Cognizant Technology Solutions by 0.9% in the first quarter. Toth Financial Advisory Corp now owns 35,359 shares of the information technology service provider’s stock valued at $2,591,000 after buying an additional 311 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Barclays lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Finally, Robert W. Baird lifted their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.58.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $74.86 on Friday. The stock has a market capitalization of $37.22 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The firm has a fifty day simple moving average of $76.53 and a 200 day simple moving average of $71.77. 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 posted its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during 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 quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

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.