Jacobi Capital Management LLC Sells 297 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Jacobi Capital Management LLC decreased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 5.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,079 shares of the information technology service provider’s stock after selling 297 shares during the period. Jacobi Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTSH. Commonwealth Equity Services LLC increased its stake in shares of Cognizant Technology Solutions by 5.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 48,358 shares of the information technology service provider’s stock valued at $4,290,000 after purchasing an additional 2,380 shares in the last quarter. FDx Advisors Inc. increased its position in shares of Cognizant Technology Solutions by 7.0% during the fourth quarter. FDx Advisors Inc. now owns 18,307 shares of the information technology service provider’s stock valued at $1,624,000 after acquiring an additional 1,195 shares in the last quarter. AGF Investments Inc. increased its position in shares of Cognizant Technology Solutions by 87.0% during the fourth quarter. AGF Investments Inc. now owns 4,488 shares of the information technology service provider’s stock valued at $398,000 after acquiring an additional 2,088 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Cognizant Technology Solutions by 3.2% during the fourth quarter. Fifth Third Bancorp now owns 103,146 shares of the information technology service provider’s stock valued at $9,151,000 after acquiring an additional 3,215 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Cognizant Technology Solutions by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider’s stock valued at $266,000 after acquiring an additional 124 shares in the last quarter. Institutional investors own 90.73% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.0 %

Shares of Cognizant Technology Solutions stock opened at $68.72 on Friday. The company’s fifty day simple moving average is $68.76 and its 200-day simple moving average is $79.03. The stock has a market capitalization of $35.58 billion, a PE ratio of 15.94, a P/E/G ratio of 1.38 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1-year low of $63.26 and a 1-year high of $93.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.05. Cognizant Technology Solutions had a net margin of 11.74% and a return on equity of 19.36%. The business had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter last year, the company posted $0.99 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.54 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Friday, August 19th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 25.06%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Susquehanna reduced their price target on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th. Barclays reduced their price target on shares of Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, July 19th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Susquehanna Bancshares cut their target price on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. downgraded shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $82.00 to $77.00 in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.79.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total transaction of $453,167.08. Following the transaction, the executive vice president now owns 5,872 shares in the company, valued at approximately $453,553.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Cognizant Technology Solutions news, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the sale, the executive vice president now directly owns 5,872 shares in the company, valued at approximately $453,553.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Patsalos-Fox sold 5,687 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $74.40, for a total transaction of $423,112.80. Following the completion of the sale, the director now owns 57,534 shares in the company, valued at $4,280,529.60. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

About Cognizant Technology Solutions

(Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

Read More

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating).

Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.