YHB Investment Advisors Inc. Reduces Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

YHB Investment Advisors Inc. cut its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,687 shares of the information technology service provider’s stock after selling 1,900 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions during the second quarter valued at about $25,000. LRI Investments LLC purchased a new position in Cognizant Technology Solutions during the first quarter valued at approximately $28,000. Pinnacle Bancorp Inc. increased its holdings in Cognizant Technology Solutions by 47.4% during the 3rd 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 during the period. Eastern Bank purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth approximately $37,000. Finally, Benjamin Edwards Inc. grew its position in shares of Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 owns 46,427 shares in the company, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $74.86 on Friday. The company has a market capitalization of $37.22 billion, a P/E ratio of 18.00, a PEG ratio of 2.16 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 quick ratio of 2.46 and a current ratio of 2.46. The stock has a 50 day moving average price of $76.53 and a two-hundred day moving average price of $71.77.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during 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 firm’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. Analysts expect that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.60%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. 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. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Finally, Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.58.

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.