Cognizant Technology Solutions Corp (NASDAQ:CTSH) Shares Sold by Pegasus Partners Ltd.

Pegasus Partners Ltd. reduced its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 11.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 54,870 shares of the information technology service provider’s stock after selling 6,843 shares during the quarter. Cognizant Technology Solutions comprises 1.0% of Pegasus Partners Ltd.’s portfolio, making the stock its 14th biggest holding. Pegasus Partners Ltd.’s holdings in Cognizant Technology Solutions were worth $3,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CTSH. Field & Main Bank grew its position in shares of Cognizant Technology Solutions by 350.0% in the second quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Resources Investment Advisors Inc. grew its position in shares of Cognizant Technology Solutions by 125.6% in the first quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 280 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at approximately $37,000. Berman Capital Advisors LLC grew its position in shares of Cognizant Technology Solutions by 137.7% in the second quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock valued at $40,000 after purchasing an additional 369 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in shares of Cognizant Technology Solutions by 51.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 584 shares of the information technology service provider’s stock valued at $42,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 88.80% of the company’s stock.

Shares of CTSH traded down $1.50 on Friday, hitting $62.46. 3,166,642 shares of the stock traded hands, compared to its average volume of 3,471,819. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The stock has a market cap of $35.32 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 1.60 and a beta of 1.01. The firm has a 50 day moving average price of $64.60. Cognizant Technology Solutions Corp has a 1 year low of $56.73 and a 1 year high of $78.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.01. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.13 billion. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 earnings per share. On average, sell-side analysts expect that Cognizant Technology Solutions Corp will post 3.96 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

Several analysts have recently commented on the stock. Nomura lowered shares of Cognizant Technology Solutions to a “hold” rating in a research report on Friday, May 3rd. Argus lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. ValuEngine upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lowered shares of Cognizant Technology Solutions from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $83.00 to $65.00 in a research report on Friday, May 3rd. Finally, Oppenheimer lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $74.48.

In other Cognizant Technology Solutions news, SVP Robert Telesmanic sold 2,484 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $161,460.00. Following the transaction, the senior vice president now owns 7,337 shares of the company’s stock, valued at $476,905. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Malcolm Frank sold 685 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $60.52, for a total transaction of $41,456.20. Following the transaction, the insider now directly owns 28,886 shares in the company, valued at approximately $1,748,180.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,120 shares of company stock worth $2,960,866. 0.56% of the stock is currently owned by insiders.

About Cognizant Technology Solutions

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.

Recommended Story: What is Elliott Wave theory?

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.