Raymond James Trust N.A. Sells 184 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Raymond James Trust N.A. trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.2% during the 3rd quarter, Holdings Channel reports. The firm owned 15,609 shares of the information technology service provider’s stock after selling 184 shares during the period. Raymond James Trust N.A.’s holdings in Cognizant Technology Solutions were worth $1,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CTSH. 1832 Asset Management L.P. raised its position in shares of Cognizant Technology Solutions by 10.7% during the 1st quarter. 1832 Asset Management L.P. now owns 34,549 shares of the information technology service provider’s stock valued at $2,532,000 after purchasing an additional 3,341 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Cognizant Technology Solutions by 129.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock valued at $139,565,000 after purchasing an additional 1,073,666 shares during the period. Janus Henderson Group PLC raised its position in shares of Cognizant Technology Solutions by 4.7% during the 1st quarter. Janus Henderson Group PLC now owns 64,111 shares of the information technology service provider’s stock valued at $4,694,000 after purchasing an additional 2,907 shares during the period. Dynasty Wealth Management LLC bought a new stake in Cognizant Technology Solutions in the 1st quarter valued at $680,000. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Cognizant Technology Solutions by 14.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,684 shares of the information technology service provider’s stock valued at $385,000 after acquiring an additional 716 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of research reports. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.47.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $79.54 on Monday. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.41. 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 company has a 50-day moving average price of $76.98 and a 200 day moving average price of $73.32. The stock has a market cap of $39.44 billion, a PE ratio of 17.60, a P/E/G ratio of 2.17 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS 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 firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the company earned $1.16 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.51%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

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.