Chartwell Investment Partners LLC Sells 4,698 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Chartwell Investment Partners LLC lessened its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,759 shares of the information technology service provider’s stock after selling 4,698 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Cognizant Technology Solutions were worth $2,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Cognizant Technology Solutions during the third quarter valued at about $1,972,000. Blair William & Co. IL boosted its position in Cognizant Technology Solutions by 2.5% during the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after buying an additional 412 shares during the period. Trinity Legacy Partners LLC boosted its position in Cognizant Technology Solutions by 14.3% during the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after buying an additional 7,547 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Cognizant Technology Solutions by 8.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock valued at $47,667,000 after buying an additional 53,061 shares during the period. Finally, Cetera Investment Advisers boosted its position in Cognizant Technology Solutions by 135.4% during the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after buying an additional 19,157 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $81.74 on Wednesday. The company has a market capitalization of $40.53 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 2.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company has a 50 day simple moving average of $76.54 and a two-hundred day simple moving average of $72.53. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.19.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CTSH shares. Mizuho upped their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. One equities 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.83.

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.