Integrated Wealth Concepts LLC Lowers Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Integrated Wealth Concepts LLC lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 16.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,324 shares of the information technology service provider's stock after selling 8,672 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Cognizant Technology Solutions were worth $3,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTSH. Pinnacle Bancorp Inc. grew its holdings in shares of 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 purchasing an additional 146 shares during the period. Benjamin Edwards Inc. boosted its stake in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock worth $36,000 after buying an additional 158 shares during the period. Addison Advisors LLC increased its position in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock valued at $26,000 after acquiring an additional 189 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Cognizant Technology Solutions by 32.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider's stock valued at $61,000 after acquiring an additional 193 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 1.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider's stock worth $862,000 after acquiring an additional 194 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 0.5 %

CTSH stock traded up $0.41 during trading on Friday, hitting $81.14. 2,657,031 shares of the company's stock were exchanged, compared to its average volume of 3,781,750. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.20 and a beta of 1.06. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $77.79 and a two-hundred day moving average price of $74.02.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The company's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CTSH shares. Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. StockNews.com downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a "buy" rating and a $90.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $79.47.

Insider Buying and Selling

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

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.