iSAM Funds UK Ltd Has $466,000 Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

iSAM Funds UK Ltd cut its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 53.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,032 shares of the information technology service provider's stock after selling 6,834 shares during the quarter. iSAM Funds UK Ltd's holdings in Cognizant Technology Solutions were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CTSH. International Assets Investment Management LLC bought a new position in Cognizant Technology Solutions during the third quarter worth about $1,972,000. Daiwa Securities Group Inc. grew its position in shares of Cognizant Technology Solutions by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider's stock valued at $7,828,000 after purchasing an additional 11,349 shares during the period. Trinity Legacy Partners LLC increased its stake in Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider's stock worth $4,629,000 after purchasing an additional 7,547 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Cognizant Technology Solutions by 5.9% during the 3rd 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 during the period. Finally, Cetera Investment Advisers lifted its stake in Cognizant Technology Solutions by 135.4% in the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider's stock valued at $2,441,000 after buying an additional 19,157 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research reports. StockNews.com downgraded shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on 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. Robert W. Baird upped their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a "buy" rating and a $90.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $79.47.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded up $0.41 during trading on Friday, reaching $81.14. 2,657,031 shares of the company's stock were exchanged, compared to its average volume of 3,255,156. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The stock has a market capitalization of $40.23 billion, a P/E ratio of 17.95, a PEG ratio of 2.22 and a beta of 1.06. The business has a 50 day moving average price of $77.88 and a 200-day moving average price of $74.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results 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 return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the firm earned $1.16 EPS. The firm's revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

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

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.