Trexquant Investment LP bought a new stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the first quarter, Holdings Channel reports. The firm bought 37,159 shares of the information technology service provider’s stock, valued at approximately $2,692,000.

Several other large investors also recently added to or reduced their stakes in the stock. Lenox Wealth Management Inc. grew its holdings in Cognizant Technology Solutions by 15.0% during the first quarter. Lenox Wealth Management Inc. now owns 1,102 shares of the information technology service provider’s stock worth $80,000 after purchasing an additional 144 shares during the period. Segall Bryant & Hamill LLC grew its holdings in Cognizant Technology Solutions by 1.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 11,828 shares of the information technology service provider’s stock worth $751,000 after purchasing an additional 152 shares during the period. Van ECK Associates Corp grew its holdings in Cognizant Technology Solutions by 2.0% during the fourth quarter. Van ECK Associates Corp now owns 8,038 shares of the information technology service provider’s stock worth $510,000 after purchasing an additional 155 shares during the period. Kaizen Advisory LLC grew its holdings in Cognizant Technology Solutions by 11.7% during the fourth quarter. Kaizen Advisory LLC now owns 1,596 shares of the information technology service provider’s stock worth $101,000 after purchasing an additional 167 shares during the period. Finally, LS Investment Advisors LLC grew its holdings in Cognizant Technology Solutions by 1.0% during the first quarter. LS Investment Advisors LLC now owns 18,534 shares of the information technology service provider’s stock worth $1,343,000 after purchasing an additional 177 shares during the period. 89.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:CTSH traded down $0.87 during trading on Wednesday, reaching $62.50. 111,738 shares of the stock were exchanged, compared to its average volume of 4,794,599. Cognizant Technology Solutions Corp has a 12 month low of $56.73 and a 12 month high of $83.35. The stock has a market cap of $36.08 billion, a PE ratio of 15.57, a P/E/G ratio of 1.59 and a beta of 1.05. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 22nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 19.90%.

A number of equities analysts recently commented on the company. Wells Fargo & Co cut Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $82.00 to $75.00 in a report on Tuesday, April 16th. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Monday, April 8th. Daiwa Capital Markets assumed coverage on Cognizant Technology Solutions in a report on Wednesday, February 13th. They set a “buy” rating and a $90.00 price target for the company. Morgan Stanley cut Cognizant Technology Solutions from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $85.00 to $69.00 in a report on Monday, April 29th. Finally, BMO Capital Markets reduced their price target on Cognizant Technology Solutions from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company. Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $75.55.

In related news, CEO Brian Humphries purchased 19,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $61.09 per share, for a total transaction of $1,160,710.00. Following the completion of the purchase, the chief executive officer now owns 19,000 shares in the company, valued at approximately $1,160,710. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen Shaheen sold 396 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $73.80, for a total value of $29,224.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,618 shares of company stock valued at $3,078,514. 0.56% of the stock is currently owned by corporate insiders.

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Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

Further Reading: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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