Everence Capital Management Inc. Reduces Holdings in Cognizant Technology Solutions Corp (CTSH)

Everence Capital Management Inc. cut its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 18.7% during the 1st quarter, HoldingsChannel reports. The fund owned 10,250 shares of the information technology service provider’s stock after selling 2,352 shares during the quarter. Everence Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $743,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lenox Wealth Management Inc. raised its holdings in Cognizant Technology Solutions by 15.0% during the 1st quarter. Lenox Wealth Management Inc. now owns 1,102 shares of the information technology service provider’s stock worth $80,000 after buying an additional 144 shares during the period. Plimoth Trust Co. LLC raised its holdings in Cognizant Technology Solutions by 0.6% during the 4th quarter. Plimoth Trust Co. LLC now owns 24,088 shares of the information technology service provider’s stock worth $1,529,000 after buying an additional 145 shares during the period. Segall Bryant & Hamill LLC grew its stake in Cognizant Technology Solutions by 1.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 11,828 shares of the information technology service provider’s stock valued at $751,000 after acquiring an additional 152 shares in the last quarter. Van ECK Associates Corp grew its stake in Cognizant Technology Solutions by 2.0% during the 4th quarter. Van ECK Associates Corp now owns 8,038 shares of the information technology service provider’s stock valued at $510,000 after acquiring an additional 155 shares in the last quarter. Finally, Kaizen Advisory LLC grew its stake in Cognizant Technology Solutions by 11.7% during the 4th quarter. Kaizen Advisory LLC now owns 1,596 shares of the information technology service provider’s stock valued at $101,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Several equities analysts have weighed in on the company. Zacks Investment Research raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. CIBC reaffirmed a “market perform” rating on shares of Cognizant Technology Solutions in a research note on Friday, May 3rd. Argus cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Wedbush cut Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $70.00 in a research note on Friday, May 3rd. Finally, William Blair cut Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $75.55.

In related news, SVP Robert Telesmanic sold 3,477 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $73.41, for a total value of $255,246.57. Following the completion of the sale, the senior vice president now owns 10,284 shares of the company’s stock, valued at approximately $754,948.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Allen Shaheen sold 396 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $73.80, for a total value of $29,224.80. The disclosure for this sale can be found here. In the last three months, insiders sold 47,954 shares of company stock valued at $3,456,742. 0.56% of the stock is currently owned by company insiders.

Shares of NASDAQ CTSH opened at $57.77 on Wednesday. The company has a market capitalization of $32.38 billion, a P/E ratio of 14.37, a PEG ratio of 1.43 and a beta of 0.95. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $83.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.12). The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.16 billion. Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS. As a group, equities analysts forecast that Cognizant Technology Solutions Corp will post 3.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. Cognizant Technology Solutions’s payout ratio is 19.90%.

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Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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