Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 49.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,317 shares of the information technology service provider’s stock after acquiring an additional 90,402 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cognizant Technology Solutions were worth $19,754,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Cognizant Technology Solutions by 81.6% during the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after buying an additional 11,262,360 shares during the last quarter. Comgest Global Investors S.A.S. boosted its stake in shares of Cognizant Technology Solutions by 57.7% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after buying an additional 2,178,800 shares during the last quarter. Yacktman Asset Management LP purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at approximately $89,259,000. BT Investment Management Ltd purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at approximately $83,134,000. Finally, FIL Ltd boosted its stake in shares of Cognizant Technology Solutions by 37.7% during the 2nd quarter. FIL Ltd now owns 3,718,791 shares of the information technology service provider’s stock valued at $246,928,000 after buying an additional 1,017,981 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.
Several research firms have recently commented on CTSH. Zacks Investment Research cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Vetr upgraded Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 target price for the company in a research note on Tuesday, September 19th. Wedbush reiterated an “outperform” rating on shares of Cognizant Technology Solutions in a research note on Monday, September 18th. Barclays increased their target price on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $78.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $81.91.
Shares of Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $71.61 on Friday. Cognizant Technology Solutions Corp has a 52-week low of $51.52 and a 52-week high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $42,140.00, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. equities analysts anticipate that Cognizant Technology Solutions Corp will post 3.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 18.58%.
In other Cognizant Technology Solutions news, President Rajeev Mehta sold 32,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $72.02, for a total value of $2,304,640.00. Following the sale, the president now directly owns 170,063 shares of the company’s stock, valued at $12,247,937.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Francisco Dsouza sold 482,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the transaction, the chief executive officer now directly owns 621,643 shares in the company, valued at $44,783,161.72. The disclosure for this sale can be found here. Insiders sold 652,405 shares of company stock worth $47,111,645 over the last ninety days. 1.08% of the stock is owned by corporate insiders.
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Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.
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