Whitnell & Co. Decreases Position in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Whitnell & Co. cut its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 29.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,400 shares of the information technology service provider’s stock after selling 8,925 shares during the quarter. Whitnell & Co.’s holdings in Cognizant Technology Solutions were worth $1,290,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CTSH. North Star Investment Management Corp. acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at approximately $25,000. Field & Main Bank lifted its holdings in shares of Cognizant Technology Solutions by 350.0% in the second quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 350 shares in the last quarter. Berman Capital Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 137.7% in the second quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock valued at $40,000 after purchasing an additional 369 shares in the last quarter. Citizens Financial Group Inc RI lifted its stake in shares of Cognizant Technology Solutions by 35.3% during the second quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock valued at $46,000 after buying an additional 187 shares during the period. Finally, YorkBridge Wealth Partners LLC lifted its stake in shares of Cognizant Technology Solutions by 52.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 892 shares of the information technology service provider’s stock valued at $57,000 after buying an additional 308 shares during the period. 91.23% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on CTSH shares. TheStreet raised shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research note on Tuesday, July 23rd. BMO Capital Markets reduced their price objective on shares of Cognizant Technology Solutions to $75.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. ValuEngine raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group reduced their price objective on shares of Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. Finally, Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a research note on Thursday, September 5th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $71.48.

In related news, General Counsel Matthew W. Friedrich sold 3,104 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $62.23, for a total value of $193,161.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Allen Shaheen sold 975 shares of Cognizant Technology Solutions stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $64.30, for a total transaction of $62,692.50. Following the completion of the sale, the executive vice president now owns 2,010 shares in the company, valued at $129,243. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,823 shares of company stock worth $1,169,337. Insiders own 0.56% of the company’s stock.

NASDAQ:CTSH traded down $0.17 during trading hours on Friday, reaching $62.86. 1,858,000 shares of the company were exchanged, compared to its average volume of 4,136,774. Cognizant Technology Solutions Corp has a 52-week low of $56.73 and a 52-week high of $74.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.53 and a quick ratio of 2.53. The firm has a market cap of $34.28 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.42 and a beta of 1.05. The stock has a 50 day simple moving average of $60.68 and a 200 day simple moving average of $62.73.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.03. Cognizant Technology Solutions had a net margin of 12.60% and a return on equity of 20.23%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the firm posted $1.05 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corp will post 3.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a $0.20 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. Cognizant Technology Solutions’s payout ratio is currently 19.90%.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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