Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC decreased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 29.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 25,056 shares of the information technology service provider's stock after selling 10,545 shares during the period. Kovitz Investment Group Partners LLC's holdings in Cognizant Technology Solutions were worth $1,934,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. 1620 Investment Advisors Inc. purchased a new stake in Cognizant Technology Solutions during the 2nd quarter valued at about $25,000. Addison Advisors LLC lifted its holdings 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 worth $26,000 after purchasing an additional 189 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions in the third quarter valued at approximately $30,000. Pinnacle Bancorp Inc. lifted its stake in 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 valued at $35,000 after acquiring an additional 146 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock worth $36,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Trading Down 0.7 %

Cognizant Technology Solutions stock traded down $0.58 during midday trading on Tuesday, hitting $80.06. 2,456,741 shares of the stock were exchanged, compared to its average volume of 3,771,383. 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 $39.70 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.24 and a beta of 1.06. The stock's 50-day simple moving average is $77.95 and its 200 day simple moving average is $74.26. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

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 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company's stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CTSH shares. Daiwa America upgraded Cognizant Technology Solutions to a "hold" rating in a research report on Tuesday, August 27th. Mizuho lifted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a "buy" rating and a $90.00 price target for the company. Finally, StockNews.com downgraded Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.