Franklin Resources Inc. Trims Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Franklin Resources Inc. reduced its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,807,628 shares of the information technology service provider's stock after selling 38,843 shares during the quarter. Franklin Resources Inc. owned 0.57% of Cognizant Technology Solutions worth $215,542,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth about $1,972,000. Daiwa Securities Group Inc. grew its holdings in shares of Cognizant Technology Solutions by 12.6% during the third quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider's stock worth $7,828,000 after buying an additional 11,349 shares in the last quarter. Trinity Legacy Partners LLC grew its holdings in shares of Cognizant Technology Solutions by 14.3% during the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider's stock worth $4,629,000 after buying an additional 7,547 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Cognizant Technology Solutions by 5.9% during the third quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider's stock worth $9,228,000 after buying an additional 6,626 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of Cognizant Technology Solutions by 15.9% during the third quarter. National Pension Service now owns 907,902 shares of the information technology service provider's stock worth $70,072,000 after buying an additional 124,740 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

Shares of CTSH traded down $0.31 during midday trading on Friday, hitting $80.06. 2,698,680 shares of the company traded hands, compared to its average volume of 3,752,314. The firm has a 50 day moving average of $78.25 and a 200-day moving average of $74.57. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The stock has a market cap of $39.70 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

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

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CTSH shares. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Royal Bank of Canada increased 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. StockNews.com cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Daiwa America raised Cognizant Technology Solutions to a "hold" rating in a research report on Tuesday, August 27th. Finally, TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $79.47.

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.