Cognizant Technology Solutions Co. (NASDAQ:CTSH) Holdings Reduced by Sei Investments Co.

Sei Investments Co. lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 563,050 shares of the information technology service provider’s stock after selling 44,025 shares during the period. Sei Investments Co. owned 0.11% of Cognizant Technology Solutions worth $38,287,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Cognizant Technology Solutions by 2.3% during the 2nd quarter. Pacer Advisors Inc. now owns 67,026 shares of the information technology service provider’s stock valued at $4,558,000 after acquiring an additional 1,496 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of Cognizant Technology Solutions by 9.3% during the second quarter. AE Wealth Management LLC now owns 12,768 shares of the information technology service provider’s stock valued at $868,000 after purchasing an additional 1,085 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Cognizant Technology Solutions by 23.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 31,833 shares of the information technology service provider’s stock valued at $2,165,000 after buying an additional 6,090 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in Cognizant Technology Solutions by 21.3% during the 2nd quarter. Ieq Capital LLC now owns 26,613 shares of the information technology service provider’s stock valued at $1,810,000 after buying an additional 4,671 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTSH has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. raised their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Finally, Mizuho restated a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $77.44.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction that occurred 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 owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Trading Up 0.6 %

NASDAQ:CTSH opened at $76.12 on Tuesday. The stock has a market cap of $37.85 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The stock’s 50-day moving average is $75.47 and its two-hundred day moving average is $71.34.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 EPS. As a group, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared 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 1.58%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 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.