Galibier Capital Management Ltd. Buys 6,660 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Galibier Capital Management Ltd. raised its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 26.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,219 shares of the information technology service provider’s stock after purchasing an additional 6,660 shares during the quarter. Cognizant Technology Solutions makes up about 0.9% of Galibier Capital Management Ltd.’s portfolio, making the stock its 22nd biggest holding. Galibier Capital Management Ltd.’s holdings in Cognizant Technology Solutions were worth $2,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. State of Tennessee Treasury Department boosted its stake in shares of Cognizant Technology Solutions by 54.0% during the 1st quarter. State of Tennessee Treasury Department now owns 231,079 shares of the information technology service provider’s stock worth $16,742,000 after acquiring an additional 81,027 shares during the period. Signition LP bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $593,000. FMR LLC boosted its stake in shares of Cognizant Technology Solutions by 21.9% during the 1st quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after acquiring an additional 2,827,833 shares during the period. Exane Derivatives boosted its stake in shares of Cognizant Technology Solutions by 16,331.5% during the 1st quarter. Exane Derivatives now owns 29,248 shares of the information technology service provider’s stock worth $2,118,000 after acquiring an additional 29,070 shares during the period. Finally, Motco boosted its stake in shares of Cognizant Technology Solutions by 5.9% during the 1st quarter. Motco now owns 68,773 shares of the information technology service provider’s stock worth $4,982,000 after acquiring an additional 3,857 shares during the period. Hedge funds and other institutional investors own 88.41% of the company’s stock.

NASDAQ CTSH traded up $0.64 during midday trading on Friday, hitting $61.22. The company had a trading volume of 2,222,900 shares, compared to its average volume of 3,649,268. The company has a market capitalization of $33.81 billion, a PE ratio of 15.23, a P/E/G ratio of 1.52 and a beta of 1.01. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $64.26 and a 200-day moving average price of $67.23. Cognizant Technology Solutions Corp has a twelve month low of $56.73 and a twelve month high of $78.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. On average, equities analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.80 annualized dividend and a yield of 1.31%. Cognizant Technology Solutions’s dividend payout ratio is presently 19.90%.

In other Cognizant Technology Solutions news, CEO Brian Humphries purchased 19,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $61.09 per share, with a total value of $1,160,710.00. Following the acquisition, the chief executive officer now owns 19,000 shares of the company’s stock, valued at $1,160,710. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Karen Mcloughlin sold 1,500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $62.85, for a total value of $94,275.00. Following the transaction, the chief financial officer now directly owns 67,423 shares of the company’s stock, valued at approximately $4,237,535.55. The disclosure for this sale can be found here. Insiders sold a total of 47,120 shares of company stock valued at $2,960,866 over the last ninety days. Insiders own 0.56% of the company’s stock.

Several analysts recently issued reports on CTSH shares. Argus downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price target (down from $87.00) on shares of Cognizant Technology Solutions in a research note on Friday, May 3rd. Oppenheimer downgraded Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research note on Friday, May 3rd. Goldman Sachs Group downgraded Cognizant Technology Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the company from $84.00 to $64.00 in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. downgraded Cognizant Technology Solutions from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $83.00 to $65.00 in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $74.48.

About Cognizant Technology Solutions

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.

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

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