Cognizant Technology Solutions Corp (CTSH) Holdings Cut by Thoroughbred Financial Services LLC

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Thoroughbred Financial Services LLC cut its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 9.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,867 shares of the information technology service provider’s stock after selling 420 shares during the period. Thoroughbred Financial Services LLC’s holdings in Cognizant Technology Solutions were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Lenox Wealth Management Inc. raised its holdings in Cognizant Technology Solutions by 15.0% in the first quarter. Lenox Wealth Management Inc. now owns 1,102 shares of the information technology service provider’s stock worth $80,000 after buying an additional 144 shares during the last quarter. Plimoth Trust Co. LLC grew its stake in shares of Cognizant Technology Solutions by 0.6% in the fourth quarter. Plimoth Trust Co. LLC now owns 24,088 shares of the information technology service provider’s stock worth $1,529,000 after acquiring an additional 145 shares during the period. Segall Bryant & Hamill LLC grew its stake in shares of Cognizant Technology Solutions by 1.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 11,828 shares of the information technology service provider’s stock worth $751,000 after acquiring an additional 152 shares during the period. Van ECK Associates Corp grew its stake in shares of Cognizant Technology Solutions by 2.0% in the fourth quarter. Van ECK Associates Corp now owns 8,038 shares of the information technology service provider’s stock worth $510,000 after acquiring an additional 155 shares during the period. Finally, Kaizen Advisory LLC grew its stake in shares of Cognizant Technology Solutions by 11.7% in the fourth quarter. Kaizen Advisory LLC now owns 1,596 shares of the information technology service provider’s stock worth $101,000 after acquiring an additional 167 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

NASDAQ CTSH traded up $0.14 during trading hours on Friday, hitting $58.79. 2,740,085 shares of the company’s stock traded hands, compared to its average volume of 8,128,731. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.12. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $83.35. The firm has a market capitalization of $32.98 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.48 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the prior year, the firm earned $0.94 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.91 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.36%. The ex-dividend date is Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

In other Cognizant Technology Solutions news, General Counsel Matthew W. Friedrich sold 2,877 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $71.71, for a total transaction of $206,309.67. Following the transaction, the general counsel now owns 800 shares of the company’s stock, valued at $57,368. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Srinivasan Veeraraghavachary sold 2,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $74.00, for a total transaction of $148,000.00. Following the transaction, the chief operating officer now directly owns 38,992 shares in the company, valued at approximately $2,885,408. The disclosure for this sale can be found here. Insiders have sold 44,477 shares of company stock worth $3,201,495 in the last ninety days. Insiders own 0.56% of the company’s stock.

A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. CIBC reiterated a “market perform” rating on shares of Cognizant Technology Solutions in a research note on Friday, May 3rd. Argus lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Wedbush lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and cut their target price for the company from $80.00 to $70.00 in a research report on Friday, May 3rd. Finally, William Blair lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $75.55.

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Cognizant Technology Solutions Company Profile

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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