Two Sigma Advisers LP reduced its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 40.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052,356 shares of the information technology service provider’s stock after selling 704,251 shares during the period. Two Sigma Advisers LP owned approximately 0.18% of Cognizant Technology Solutions worth $74,738,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. increased its holdings in Cognizant Technology Solutions by 108.8% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after purchasing an additional 788 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at $107,000. Clearbridge Investments LLC increased its holdings in Cognizant Technology Solutions by 101.2% in the 4th quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after purchasing an additional 813 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $121,000. Finally, Cerebellum GP LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter valued at about $128,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.
Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $83.79 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.21 and a current ratio of 3.21. Cognizant Technology Solutions Corp has a 12-month low of $57.50 and a 12-month high of $84.99. The company has a market cap of $49,437.45, a PE ratio of 33.12, a PEG ratio of 1.58 and a beta of 1.02.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.95%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 31.62%.
In other Cognizant Technology Solutions news, Director Maureen Breakiron-Evans sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $82.86, for a total value of $1,657,200.00. Following the transaction, the director now owns 20,255 shares of the company’s stock, valued at $1,678,329.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gajakarnan Vibushanan Kandiah sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $72.18, for a total transaction of $216,540.00. Following the completion of the transaction, the insider now directly owns 7,724 shares in the company, valued at approximately $557,518.32. The disclosure for this sale can be found here. Insiders sold 626,836 shares of company stock worth $47,866,540 in the last three months. 1.08% of the stock is currently owned by corporate insiders.
CTSH has been the subject of a number of analyst reports. BidaskClub cut shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Zacks Investment Research cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Nomura upped their price objective on shares of Cognizant Technology Solutions from $71.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Citigroup raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.84 to $79.00 in a research report on Thursday, January 18th. Finally, Morgan Stanley upped their price objective on shares of Cognizant Technology Solutions from $77.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $85.43.
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About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.
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