Boston Trust Walden Corp Sells 2,250 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Boston Trust Walden Corp lowered its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,689 shares of the information technology service provider’s stock after selling 2,250 shares during the period. Boston Trust Walden Corp’s holdings in Cognizant Technology Solutions were worth $9,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Cognizant Technology Solutions during the first quarter worth $28,000. Spire Wealth Management raised its holdings in shares of Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $40,000. Quarry LP bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $43,000. Finally, Voisard Asset Management Group Inc. acquired a new position in Cognizant Technology Solutions during the fourth quarter worth approximately $45,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH traded up $0.39 during midday trading on Friday, reaching $75.86. 2,193,733 shares of the company were exchanged, compared to its average volume of 4,122,718. The company has a quick ratio of 2.35, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.27. The stock has a market cap of $37.72 billion, a P/E ratio of 18.24, a PEG ratio of 2.26 and a beta of 1.05. The stock’s 50-day moving average price is $70.91 and its 200-day moving average price is $71.62.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. On average, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.65 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTSH. The Goldman Sachs Group began coverage on shares of Cognizant Technology Solutions in a research report on Monday, June 24th. They issued a “neutral” rating and a $72.00 price objective on the stock. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Monday, June 10th. Susquehanna dropped their price target on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Royal Bank of Canada upped their price objective on Cognizant Technology Solutions from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.06.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

About Cognizant Technology Solutions

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.