Harbour Trust & Investment Management Co Has $264,000 Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Harbour Trust & Investment Management Co lowered its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 26.5% during the third quarter, HoldingsChannel reports. The firm owned 3,427 shares of the information technology service provider’s stock after selling 1,236 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Cognizant Technology Solutions were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after buying an additional 6,933,908 shares during the last quarter. Pzena Investment Management LLC boosted 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 last quarter. Boston Partners grew its position in Cognizant Technology Solutions by 1.3% in the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after purchasing an additional 94,209 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Cognizant Technology Solutions by 2.7% in the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after purchasing an additional 142,225 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $74.86 on Friday. The firm has a 50-day moving average of $76.53 and a 200-day moving average of $71.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The stock has a market cap of $37.22 billion, a PE ratio of 18.00, a P/E/G ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the company earned $1.10 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The trade was a 0.00 % decrease in their position. 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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CTSH shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays raised their target price 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. Finally, Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target for the company. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target 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.