E Fund Management Co. Ltd. Sells 848 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

E Fund Management Co. Ltd. reduced its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,516 shares of the information technology service provider’s stock after selling 848 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $643,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Cognizant Technology Solutions by 8.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,932 shares of the information technology service provider’s stock worth $2,637,000 after purchasing an additional 3,088 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Cognizant Technology Solutions by 6.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,322 shares of the information technology service provider’s stock valued at $225,000 after acquiring an additional 205 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Cognizant Technology Solutions by 20.5% during the 3rd quarter. Brown Advisory Inc. now owns 126,181 shares of the information technology service provider’s stock valued at $8,547,000 after acquiring an additional 21,464 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Cognizant Technology Solutions by 17.5% during the third quarter. Mackenzie Financial Corp now owns 113,824 shares of the information technology service provider’s stock worth $7,660,000 after purchasing an additional 16,937 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of Cognizant Technology Solutions by 2.3% in the third quarter. IFM Investors Pty Ltd now owns 97,280 shares of the information technology service provider’s stock worth $6,590,000 after purchasing an additional 2,216 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Cognizant Technology Solutions Trading Up 0.1 %

Shares of NASDAQ CTSH traded up $0.06 during midday trading on Wednesday, hitting $67.72. 4,578,207 shares of the company traded hands, compared to its average volume of 4,343,420. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Co. has a 12-month low of $60.26 and a 12-month high of $80.09. The stock has a 50-day moving average price of $71.82 and a 200 day moving average price of $72.57. The firm has a market cap of $33.71 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $1.11 EPS. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. BMO Capital Markets dropped their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Royal Bank of Canada increased their price target on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. Susquehanna lowered 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, Mizuho assumed coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.67.

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.