Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Barclays PLC

Barclays PLC trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,876,774 shares of the information technology service provider's stock after selling 87,181 shares during the quarter. Barclays PLC owned about 0.38% of Cognizant Technology Solutions worth $144,847,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in shares of Cognizant Technology Solutions by 3.6% in the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider's stock valued at $1,928,405,000 after buying an additional 867,176 shares during the period. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider's stock worth $1,265,473,000 after purchasing an additional 1,943,127 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cognizant Technology Solutions by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider's stock worth $378,483,000 after purchasing an additional 94,209 shares in the last quarter. Legal & General Group Plc boosted 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 purchasing an additional 142,225 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Cognizant Technology Solutions by 1.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider's stock valued at $329,452,000 after purchasing an additional 67,017 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen boosted their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price 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. The Goldman Sachs Group reissued a "neutral" rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a "buy" rating and a $90.00 price objective for the company. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of "Hold" and a consensus target price of $79.47.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH traded up $1.19 during trading hours on Wednesday, reaching $81.25. 2,150,615 shares of the company's stock were exchanged, compared to its average volume of 3,764,601. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.24 and a beta of 1.06. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41. The company has a 50-day moving average of $78.02 and a 200 day moving average of $74.34.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio is presently 26.55%.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

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.