Cairn Investment Group Inc. Sells 395 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cairn Investment Group Inc. lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,217 shares of the information technology service provider’s stock after selling 395 shares during the period. Cognizant Technology Solutions accounts for 2.3% of Cairn Investment Group Inc.’s portfolio, making the stock its 18th largest position. Cairn Investment Group Inc.’s holdings in Cognizant Technology Solutions were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vision Capital Management Inc. lifted its position in Cognizant Technology Solutions by 0.4% in the 4th quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock valued at $2,916,000 after acquiring an additional 144 shares in the last quarter. Nilsine Partners LLC grew its stake in Cognizant Technology Solutions by 4.3% in the 4th quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock valued at $284,000 after buying an additional 156 shares during the last quarter. Unison Advisors LLC grew its stake in Cognizant Technology Solutions by 0.6% in the 1st quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock valued at $2,142,000 after buying an additional 172 shares during the last quarter. Valley National Advisers Inc. grew its stake in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 178 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Cognizant Technology Solutions by 2.5% in the 4th quarter. Signaturefd LLC now owns 7,376 shares of the information technology service provider’s stock valued at $557,000 after purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded down $0.28 during mid-day trading on Thursday, hitting $68.02. 422,314 shares of the company traded hands, compared to its average volume of 4,062,474. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.09. The stock has a market cap of $33.82 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 2.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a fifty day moving average price of $67.11 and a 200-day moving average price of $72.40.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 EPS. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTSH. The Goldman Sachs Group assumed coverage on shares of Cognizant Technology Solutions in a research report on Monday. They issued a “neutral” rating and a $72.00 price target for the company. Barclays cut their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. Citigroup dropped their price objective on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, BMO Capital Markets dropped their price target on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $75.44.

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.