Sheaff Brock Investment Advisors LLC Trims Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sheaff Brock Investment Advisors LLC reduced its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,075 shares of the information technology service provider’s stock after selling 500 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $315,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in Cognizant Technology Solutions during the 2nd quarter worth $25,000. Addison Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 189 shares during the period. LRI Investments LLC bought a new stake in Cognizant Technology Solutions in the first quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at about $30,000. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 4.5 %

Shares of CTSH opened at $77.11 on Friday. The stock has a 50 day simple moving average of $76.85 and a 200-day simple moving average of $72.83. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.41. The stock has a market cap of $38.23 billion, a PE ratio of 17.06, a PEG ratio of 2.27 and a beta of 1.05. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

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 the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. On average, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business 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 annualized dividend and a yield of 1.56%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. TD Cowen increased their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $78.83.

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.