Avior Wealth Management LLC Sells 166 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Avior Wealth Management LLC reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,273 shares of the information technology service provider’s stock after selling 166 shares during the quarter. Avior Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $98,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. 1832 Asset Management L.P. boosted its holdings in shares of Cognizant Technology Solutions by 10.7% in the first quarter. 1832 Asset Management L.P. now owns 34,549 shares of the information technology service provider’s stock worth $2,532,000 after acquiring an additional 3,341 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Cognizant Technology Solutions by 129.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock worth $139,565,000 after purchasing an additional 1,073,666 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Cognizant Technology Solutions by 4.7% in the 1st quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock worth $4,694,000 after purchasing an additional 2,907 shares during the period. Dynasty Wealth Management LLC purchased a new position in Cognizant Technology Solutions during the 1st quarter valued at about $680,000. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Cognizant Technology Solutions by 14.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock valued at $385,000 after buying an additional 716 shares during the period. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $79.54 on Friday. The firm has a market cap of $39.44 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.17 and a beta of 1.05. The firm’s fifty day moving average is $76.98 and its 200 day moving average is $73.28. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the firm earned $1.16 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTSH. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.47.

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.