Clarius Group LLC Sells 140 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Clarius Group LLC reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,499 shares of the information technology service provider’s stock after selling 140 shares during the quarter. Clarius Group LLC’s holdings in Cognizant Technology Solutions were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Cognizant Technology Solutions by 13.6% in the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after buying an additional 6,933,908 shares during the period. Pzena Investment Management LLC raised its stake in shares of Cognizant Technology Solutions by 11.7% in the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after buying an additional 1,943,127 shares during the period. Boston Partners raised its stake in shares of Cognizant Technology Solutions by 1.3% in the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after buying an additional 101,078 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after buying an additional 94,209 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Cognizant Technology Solutions by 2.7% in the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after buying an additional 142,225 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Trading Up 1.9 %

Shares of Cognizant Technology Solutions stock opened at $75.94 on Friday. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The firm has a market cap of $37.64 billion, a PE ratio of 17.30, a PEG ratio of 2.16 and a beta of 1.05. 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 company has a 50 day simple moving average of $75.95 and a two-hundred day simple moving average of $71.50.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the business posted $1.10 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. Cognizant Technology Solutions’s payout ratio is 27.33%.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’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 value of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Jefferies Financial Group started coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target for the company. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $77.44.

About Cognizant Technology Solutions

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.