Summit Trail Advisors LLC Cuts Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Summit Trail Advisors LLC cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 11.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,986 shares of the information technology service provider’s stock after selling 930 shares during the period. Summit Trail Advisors LLC’s holdings in Cognizant Technology Solutions were worth $528,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Cognizant Technology Solutions during the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new stake in Cognizant Technology Solutions in the third quarter worth about $27,000. Spire Wealth Management lifted its holdings in Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 193 shares during the last quarter. Valley National Advisers Inc. boosted its position in shares of Cognizant Technology Solutions by 43.2% during the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 178 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $52,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

CTSH stock traded up $0.77 during trading on Tuesday, reaching $67.19. 719,068 shares of the stock were exchanged, compared to its average volume of 4,313,303. The stock has a 50 day simple moving average of $72.05 and a 200-day simple moving average of $72.55. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $33.45 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. Cognizant Technology Solutions Co. has a twelve month low of $60.26 and a twelve month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the business earned $1.11 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be paid a $0.30 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.79%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CTSH. Barclays lowered their target price on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Citigroup lowered their price objective on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Susquehanna cut their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Evercore ISI upped their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. Finally, Wedbush reissued an “outperform” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.67.

Cognizant Technology Solutions 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.