Union Bancaire Privee UBP SA Sells 24,287 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Union Bancaire Privee UBP SA trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 97.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 548 shares of the information technology service provider’s stock after selling 24,287 shares during the period. Union Bancaire Privee UBP SA’s holdings in Cognizant Technology Solutions were worth $42,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $36,000. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $36,000. Morton Brown Family Wealth LLC bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $37,000. Finally, Asset Planning Inc bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $46,000. 92.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Guggenheim restated a “neutral” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Morgan Stanley lowered their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Barclays lowered their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. upgraded Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $88.00 to $98.00 in a research note on Monday, May 19th. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $85.00.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $78.95 on Friday. The business’s fifty day moving average is $76.62 and its 200-day moving average is $79.05. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a market cap of $38.92 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results 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. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 EPS. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions’s payout ratio is presently 26.11%.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock buyback program on Tuesday, March 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.