Plimoth Trust Co. LLC Sells 543 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Plimoth Trust Co. LLC trimmed its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 16.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,713 shares of the information technology service provider’s stock after selling 543 shares during the period. Plimoth Trust Co. LLC’s holdings in Cognizant Technology Solutions were worth $208,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $28,000. Park Square Financial Group LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $36,000. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $36,000. Venturi Wealth Management LLC lifted its stake in shares of Cognizant Technology Solutions by 85.4% in the 4th quarter. Venturi Wealth Management LLC now owns 621 shares of the information technology service provider’s stock valued at $48,000 after acquiring an additional 286 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $49,000. 92.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. upgraded Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $88.00 to $98.00 in a report on Monday, May 19th. Robert W. Baird increased their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Finally, Susquehanna upgraded Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and increased their price objective for the company from $77.00 to $90.00 in a report on Thursday, May 1st. Fourteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $85.00.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $79.14 on Friday. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $77.34 and a two-hundred day moving average price of $79.02. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82. The company has a market cap of $39.01 billion, a P/E ratio of 16.66, a PEG ratio of 1.80 and a beta of 0.98.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping 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 firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business posted $1.12 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

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

Cognizant Technology Solutions declared that its board has initiated a share buyback program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to reacquire up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions 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.