Jacobs Levy Equity Management Inc. Sells 124,898 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 80.7% during the first quarter, HoldingsChannel reports. The firm owned 29,829 shares of the information technology service provider’s stock after selling 124,898 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Cognizant Technology Solutions were worth $2,186,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $26,000. Spire Wealth Management grew its position in Cognizant Technology Solutions by 79.1% during the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after buying an additional 193 shares in the last quarter. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions during the 4th quarter worth $40,000. Quarry LP bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $43,000. Finally, Valley National Advisers Inc. grew its holdings 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 worth $44,000 after purchasing an additional 178 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CTSH. Mizuho reissued a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Barclays upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Susquehanna lowered their price target 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. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $75.88.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $75.68 on Thursday. The company has a market cap of $37.63 billion, a PE ratio of 18.19, a P/E/G ratio of 2.27 and a beta of 1.05. The business has a 50 day moving average of $69.08 and a 200 day moving average of $71.87. Cognizant Technology Solutions Co. has a 52 week low of $62.14 and a 52 week high of $80.09. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current year.

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.