Cascade Investment Advisors Inc. Sells 270 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cascade Investment Advisors Inc. cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,512 shares of the information technology service provider’s stock after selling 270 shares during the quarter. Cognizant Technology Solutions comprises 1.2% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 25th largest position. Cascade Investment Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $1,885,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Cognizant Technology Solutions by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 467,772 shares of the information technology service provider’s stock valued at $31,808,000 after purchasing an additional 17,411 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Cognizant Technology Solutions by 5.0% in the 2nd quarter. Mackenzie Financial Corp now owns 163,840 shares of the information technology service provider’s stock valued at $11,141,000 after acquiring an additional 7,760 shares during the last quarter. Scientech Research LLC acquired a new stake in shares of Cognizant Technology Solutions in the 2nd quarter valued at approximately $493,000. Creative Planning boosted its stake in Cognizant Technology Solutions by 5.6% during the 2nd quarter. Creative Planning now owns 40,905 shares of the information technology service provider’s stock worth $2,782,000 after acquiring an additional 2,181 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Cognizant Technology Solutions by 43.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 22,555 shares of the information technology service provider’s stock valued at $1,534,000 after purchasing an additional 6,838 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Mizuho raised their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock 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 research report on Thursday, October 31st. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. Finally, StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Fifteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $81.19.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $81.12 on Tuesday. The firm’s fifty day moving average price is $78.76 and its two-hundred day moving average price is $76.97. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.46. The firm has a market capitalization of $40.22 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

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 (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is 26.55%.

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.