Fulton Bank N.A. Sells 174 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Fulton Bank N.A. reduced its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,914 shares of the information technology service provider’s stock after selling 174 shares during the period. Fulton Bank N.A.’s holdings in Cognizant Technology Solutions were worth $224,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CTSH. Addison Advisors LLC increased its stake in shares of Cognizant Technology Solutions by 127.7% during the 3rd 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 last quarter. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions in the third quarter worth approximately $30,000. Pinnacle Bancorp Inc. grew its position in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares in the last quarter. Eastern Bank purchased a new stake in Cognizant Technology Solutions in the third quarter worth approximately $37,000. Finally, Benjamin Edwards Inc. grew its position in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 158 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of the firm’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 transaction, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Cowen raised their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Mizuho lifted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $81.19.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $75.32 on Friday. 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 company’s fifty day moving average is $79.02 and its two-hundred day moving average is $76.19. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.46. The firm has a market capitalization of $37.35 billion, a P/E ratio of 16.66, a PEG ratio of 2.24 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $4.99 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

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.