Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lessened its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 13.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,141 shares of the information technology service provider’s stock after selling 638 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CTSH. Vanguard Group Inc. grew its stake in shares of Cognizant Technology Solutions by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. Cibc World Market Inc. grew its stake in Cognizant Technology Solutions by 19,850.5% in the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after acquiring an additional 3,000,996 shares during the last quarter. Pzena Investment Management LLC raised its position in Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after acquiring an additional 1,943,127 shares during the last quarter. Bank of Montreal Can raised its position in Cognizant Technology Solutions by 152.8% during the second quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock worth $146,132,000 after acquiring an additional 1,281,236 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock valued at $122,603,000 after purchasing an additional 1,167,033 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.1 %

Shares of CTSH opened at $74.82 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. Cognizant Technology Solutions Co. has a 12 month low of $62.14 and a 12 month high of $80.27. The stock has a market cap of $37.20 billion, a PE ratio of 17.99, a P/E/G ratio of 2.16 and a beta of 1.05. The stock’s 50-day moving average is $76.50 and its two-hundred day moving average is $71.83.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the business earned $1.10 EPS. Cognizant Technology Solutions’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.60%. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research reports. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Royal Bank of Canada upped their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.58.

Cognizant Technology Solutions Company 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.