Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 34.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,583 shares of the information technology service provider’s stock after selling 7,712 shares during the period. Rockefeller Capital Management L.P.’s holdings in Cognizant Technology Solutions were worth $1,125,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Fiduciary Trust Co lifted its stake in Cognizant Technology Solutions by 0.3% during the third quarter. Fiduciary Trust Co now owns 78,175 shares of the information technology service provider’s stock valued at $6,034,000 after buying an additional 210 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Cognizant Technology Solutions by 146.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after buying an additional 978,579 shares in the last quarter. Glenmede Trust Co. NA grew its position in Cognizant Technology Solutions by 2.9% in the third quarter. Glenmede Trust Co. NA now owns 304,869 shares of the information technology service provider’s stock worth $23,530,000 after acquiring an additional 8,680 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Cognizant Technology Solutions by 19.1% in the third quarter. Townsquare Capital LLC now owns 20,701 shares of the information technology service provider’s stock worth $1,598,000 after purchasing an additional 3,324 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. raised its stake in shares of Cognizant Technology Solutions by 56.9% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 2,412 shares of the information technology service provider’s stock valued at $187,000 after acquiring an additional 875 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Trading Up 0.5 %

NASDAQ CTSH opened at $81.14 on Monday. 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. The stock’s 50 day moving average price is $77.88 and its two-hundred day moving average price is $74.18. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.22 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results 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. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analysts Set New Price Targets

Several brokerages recently commented on CTSH. JPMorgan Chase & Co. lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Robert W. Baird raised their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. One 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $79.47.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.