Brooklyn Investment Group Sells 2,869 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Brooklyn Investment Group cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 61.7% in the third quarter, HoldingsChannel reports. The firm owned 1,778 shares of the information technology service provider’s stock after selling 2,869 shares during the period. Brooklyn Investment Group’s holdings in Cognizant Technology Solutions were worth $137,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Addison Advisors LLC boosted its holdings in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the period. 1620 Investment Advisors Inc. bought a new stake in Cognizant Technology Solutions during the second quarter valued at about $25,000. LRI Investments LLC bought a new stake in Cognizant Technology Solutions during the first quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions during the third quarter valued at about $30,000. Finally, Pinnacle Bancorp Inc. boosted its holdings in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $80.75 on Thursday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.04 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41. The firm’s 50-day moving average price is $77.24 and its two-hundred day moving average price is $73.56.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data 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. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTSH shares. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target for the company. TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. Robert W. Baird upped their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Mizuho upped their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions currently has an average 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.