Versant Capital Management Inc Sells 334 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Versant Capital Management Inc decreased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 31.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 733 shares of the information technology service provider’s stock after selling 334 shares during the period. Versant Capital Management Inc’s holdings in Cognizant Technology Solutions were worth $56,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CTSH. Cibc World Market Inc. boosted its stake in shares of Cognizant Technology Solutions by 19,850.5% in the second quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock worth $205,096,000 after acquiring an additional 3,000,996 shares during the period. Bank of Montreal Can boosted its stake in Cognizant Technology Solutions by 152.8% in the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock worth $146,132,000 after purchasing an additional 1,281,236 shares during the period. Assenagon Asset Management S.A. grew its holdings in Cognizant Technology Solutions by 276.9% during the 3rd 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 buying an additional 1,167,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Cognizant Technology Solutions by 146.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after buying an additional 978,579 shares during the last quarter. Finally, ING Groep NV lifted its holdings in shares of Cognizant Technology Solutions by 61.5% in the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock worth $191,280,000 after buying an additional 943,372 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $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 is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Cognizant Technology Solutions Trading Down 0.0 %

CTSH opened at $76.38 on Monday. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market cap of $37.87 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 2.24 and a beta of 1.06. The stock’s 50 day moving average price is $78.93 and its 200-day moving average price is $75.99.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion during 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 business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. On average, equities analysts forecast 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. Shareholders of record on Tuesday, November 19th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CTSH shares. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Mizuho lifted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.19.

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.