S&CO Inc. Sells 2,440 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

S&CO Inc. decreased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,740 shares of the information technology service provider’s stock after selling 2,440 shares during the period. S&CO Inc.’s holdings in Cognizant Technology Solutions were worth $3,838,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CTSH. Vanguard Group Inc. grew its holdings in Cognizant Technology Solutions by 13.6% during the first 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 holdings in Cognizant Technology Solutions by 19,850.5% during 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 purchasing an additional 3,000,996 shares during the period. Pzena Investment Management LLC grew its holdings 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 purchasing an additional 1,943,127 shares during the period. Bank of Montreal Can grew its holdings 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 purchasing an additional 1,281,236 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Cognizant Technology Solutions by 276.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after purchasing an additional 1,167,033 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 4.5 %

NASDAQ:CTSH opened at $77.11 on Friday. The firm has a 50-day moving average price of $76.85 and a two-hundred day moving average price of $72.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The firm has a market cap of $38.23 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the business posted $1.16 EPS. Cognizant Technology Solutions’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. Cognizant Technology Solutions’s dividend payout ratio is 26.55%.

Wall Street Analysts Forecast Growth

CTSH has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target for the company. Barclays lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus 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.