Czech National Bank Sells 197 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Czech National Bank lessened its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,623 shares of the information technology service provider’s stock after selling 197 shares during the quarter. Czech National Bank’s holdings in Cognizant Technology Solutions were worth $6,422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth about $26,000. Spire Wealth Management increased its stake 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 buying an additional 193 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $40,000. Quarry LP purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $43,000. Finally, Valley National Advisers Inc. increased its stake in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 178 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CTSH shares. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Monday, June 10th. BMO Capital Markets cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Susquehanna cut their price objective on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Citigroup cut their price objective on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH traded up $2.33 during trading hours on Thursday, hitting $68.14. The stock had a trading volume of 4,226,085 shares, compared to its average volume of 4,094,739. The company has a 50 day simple moving average of $67.08 and a two-hundred day simple moving average of $72.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $33.88 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.97 and a beta of 1.04. Cognizant Technology Solutions Co. has a one year low of $61.23 and a one year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $1.11 EPS. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

About Cognizant Technology Solutions

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.