Auxier Asset Management Decreases Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Auxier Asset Management Decreases Holdings in Cognizant Technology Solutions Co.

Auxier Asset Management recently decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm sold 1,147 shares, leaving them with 40,481 shares of the information technology service provider’s stock, valued at $3,058,000 at the end of the reporting period.

Other hedge funds have also been active in trading CTSH shares. Rhumbline Advisers increased its position by 9.0% in the third quarter, while William Blair Investment Management LLC acquired a new stake. E Fund Management Co. Ltd. and Aviva PLC also grew their positions, with Johnson Investment Counsel Inc. increasing its holdings by 22.7%. Overall, hedge funds and other institutional investors now own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $64.26 on Friday, with a market capitalization of $31.95 billion. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35, and a current ratio of 2.35. The stock’s fifty-day moving average is $67.44, and its two-hundred day moving average is $72.57.

Cognizant Technology Solutions Announces Dividend

Cognizant Technology Solutions recently disclosed a quarterly dividend, which was paid on May 29th. Investors of record on May 20th received a dividend of $0.30 per share, representing a $1.20 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was May 17th, with a dividend payout ratio of 28.85%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTSH, with Barclays lowering their price objective and Evercore ISI raising their price target. Needham & Company LLC, Mizuho, and StockNews.com have also provided ratings on the stock. Overall, analysts predict that Cognizant Technology Solutions will post 4.61 EPS for the current year.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation provides consulting and technology services globally, operating through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.

For more information and analysis on Cognizant Technology Solutions, visit MarketBeat.com.