Hendershot Investments Inc. Sells 1,960 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Hendershot Investments Inc. reduced its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 217,622 shares of the information technology service provider’s stock after selling 1,960 shares during the period. Cognizant Technology Solutions makes up approximately 2.1% of Hendershot Investments Inc.’s investment portfolio, making the stock its 16th biggest position. Hendershot Investments Inc.’s holdings in Cognizant Technology Solutions were worth $14,798,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CTSH. 1620 Investment Advisors Inc. bought a new position in Cognizant Technology Solutions in the 2nd quarter valued at about $25,000. LRI Investments LLC bought a new position in Cognizant Technology Solutions in the first quarter valued at approximately $28,000. Spire Wealth Management raised its position in Cognizant Technology Solutions by 79.1% during the fourth 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 in the last quarter. Neo Ivy Capital Management acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC bought a new stake in Cognizant Technology Solutions during the second quarter worth $40,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.7 %

Cognizant Technology Solutions stock opened at $76.76 on Friday. The firm has a 50 day moving average price of $73.68 and a two-hundred day moving average price of $71.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.27. The firm has a market cap of $38.16 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.21 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts predict that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared 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 1.56%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price target for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.61.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

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.