Jensen Investment Management Inc. Sells 4,596 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Jensen Investment Management Inc. lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,664 shares of the information technology service provider’s stock after selling 4,596 shares during the period. Jensen Investment Management Inc.’s holdings in Cognizant Technology Solutions were worth $8,545,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CTSH. Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after acquiring an additional 7,445,089 shares during the last quarter. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $406,360,000. Pzena Investment Management LLC raised its position in shares of Cognizant Technology Solutions by 11.7% during the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after acquiring an additional 1,943,127 shares during the last quarter. Cibc World Markets Corp raised its position in shares of Cognizant Technology Solutions by 1,861.7% during the 4th quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock valued at $127,389,000 after acquiring an additional 1,600,621 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Cognizant Technology Solutions by 2,083.8% during the 4th quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock valued at $107,473,000 after acquiring an additional 1,357,755 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.6 %

Shares of Cognizant Technology Solutions stock traded up $0.48 during trading hours on Friday, reaching $77.24. 134,757 shares of the company’s stock were exchanged, compared to its average volume of 3,992,628. The company has a 50 day moving average of $73.68 and a two-hundred day moving average of $71.61. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock has a market cap of $38.40 billion, a P/E ratio of 18.45, a P/E/G ratio of 2.21 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data 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. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business posted $1.10 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. 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 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. Finally, Mizuho reissued a “neutral” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $76.61.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the 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 completion of the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

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.