Pathstone Holdings LLC Sells 390 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Pathstone Holdings LLC trimmed its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,061 shares of the information technology service provider’s stock after selling 390 shares during the quarter. Pathstone Holdings LLC’s holdings in Cognizant Technology Solutions were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Addison Advisors LLC grew its stake in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions during the second quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in Cognizant Technology Solutions during the first quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in Cognizant Technology Solutions during the third quarter worth approximately $30,000. Finally, Pinnacle Bancorp Inc. grew its stake in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CTSH shares. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Mizuho raised their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft raised 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. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $79.54 on Friday. The firm has a market cap of $39.44 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.17 and a beta of 1.05. 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 Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The firm’s 50-day simple moving average is $76.98 and its two-hundred day simple moving average is $73.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. As a group, equities analysts forecast 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. Shareholders of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.51%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is 26.55%.

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.