Chartwell Investment Partners LLC Sells 4,698 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Chartwell Investment Partners LLC decreased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 12.5% in the third quarter, HoldingsChannel reports. The fund owned 32,759 shares of the information technology service provider’s stock after selling 4,698 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Cognizant Technology Solutions were worth $2,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at $25,000. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $30,000. Pinnacle Bancorp Inc. grew its position in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the period. Finally, Eastern Bank bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $37,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.3 %

Shares of NASDAQ CTSH opened at $81.74 on Wednesday. The firm’s 50-day moving average price is $76.54 and its 200-day moving average price is $72.53. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.53 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 2.21 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.19.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company posted $1.16 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CTSH shares. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Mizuho upped their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $78.83.

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.