Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Sold by Walled Lake Planning & Wealth Management LLC

Walled Lake Planning & Wealth Management LLC cut its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSHFree Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,525 shares of the information technology service provider’s stock after selling 461 shares during the quarter. Cognizant Technology Solutions accounts for approximately 1.6% of Walled Lake Planning & Wealth Management LLC’s holdings, making the stock its 20th biggest position. Walled Lake Planning & Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $4,401,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its holdings in Cognizant Technology Solutions by 7.1% in the first quarter. Harvest Fund Management Co. Ltd now owns 31,250 shares of the information technology service provider’s stock valued at $2,390,000 after acquiring an additional 2,070 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Cognizant Technology Solutions in the first quarter valued at $1,257,000. Federated Hermes Inc. lifted its holdings in Cognizant Technology Solutions by 164.8% in the first quarter. Federated Hermes Inc. now owns 2,174 shares of the information technology service provider’s stock valued at $166,000 after acquiring an additional 1,353 shares during the period. Meeder Advisory Services Inc. lifted its holdings in Cognizant Technology Solutions by 16.7% in the first quarter. Meeder Advisory Services Inc. now owns 14,417 shares of the information technology service provider’s stock valued at $1,103,000 after acquiring an additional 2,067 shares during the period. Finally, Norden Group LLC raised its stake in shares of Cognizant Technology Solutions by 16.7% during the 1st quarter. Norden Group LLC now owns 3,527 shares of the information technology service provider’s stock worth $270,000 after buying an additional 506 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on Cognizant Technology Solutions from $98.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday. Barclays reduced their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Guggenheim raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Friday, July 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $85.88.

View Our Latest Research Report on CTSH

Cognizant Technology Solutions Stock Down 1.6%

CTSH opened at $75.42 on Tuesday. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The business has a 50-day moving average of $78.52 and a 200-day moving average of $78.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market capitalization of $37.18 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business earned $1.12 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Monday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.11%.

Cognizant Technology Solutions Company Profile

(Free Report)

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.

Featured Stories

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 Corporation (NASDAQ:CTSHFree Report).

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.