Ingalls & Snyder LLC cut its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,207 shares of the information technology service provider’s stock after selling 3,731 shares during the period. Ingalls & Snyder LLC’s holdings in Cognizant Technology Solutions were worth $2,432,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of CTSH. California Public Employees Retirement System raised its stake in shares of Cognizant Technology Solutions by 7.8% in the 3rd quarter. California Public Employees Retirement System now owns 3,972,744 shares of the information technology service provider’s stock valued at $239,417,000 after acquiring an additional 285,994 shares in the last quarter. MV Capital Management Inc. bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $90,000. Dupont Capital Management Corp bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $476,000. Ancora Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 5.8% in the 3rd quarter. Ancora Advisors LLC now owns 34,733 shares of the information technology service provider’s stock valued at $2,093,000 after acquiring an additional 1,914 shares in the last quarter. Finally, National Pension Service raised its stake in shares of Cognizant Technology Solutions by 5.0% in the 3rd quarter. National Pension Service now owns 704,488 shares of the information technology service provider’s stock valued at $42,456,000 after acquiring an additional 33,523 shares in the last quarter. 90.61% of the stock is owned by institutional investors.
Shares of NASDAQ:CTSH opened at $61.85 on Thursday. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $74.85. The firm has a market capitalization of $33.60 billion, a PE ratio of 15.39, a PEG ratio of 1.35 and a beta of 1.02. The business’s 50 day moving average is $62.10 and its 200-day moving average is $62.42. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.13.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. Cognizant Technology Solutions had a return on equity of 20.23% and a net margin of 12.60%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the firm earned $1.05 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.97 EPS for the current year.
In other Cognizant Technology Solutions news, Director Francisco Dsouza sold 62,178 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.62, for a total value of $3,955,764.36. Following the completion of the transaction, the director now owns 526,227 shares in the company, valued at approximately $33,478,561.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John E. Klein sold 10,000 shares of Cognizant Technology Solutions stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $63.94, for a total value of $639,400.00. Following the completion of the transaction, the director now owns 459,987 shares of the company’s stock, valued at approximately $29,411,568.78. The disclosure for this sale can be found here. Insiders have sold a total of 231,891 shares of company stock valued at $14,392,352 in the last 90 days. 0.56% of the stock is owned by corporate insiders.
A number of research analysts recently weighed in on the company. Needham & Company LLC downgraded Cognizant Technology Solutions from a “hold” rating to an “underperform” rating in a research note on Friday, November 22nd. BidaskClub lowered Cognizant Technology Solutions from a “sell” rating to a “strong sell” rating in a report on Saturday, December 7th. Citigroup lowered their target price on Cognizant Technology Solutions from $76.00 to $69.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Wolfe Research lowered Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $65.00 target price on the stock. in a report on Monday, January 6th. Finally, Wells Fargo & Co raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $62.00 to $70.00 in a report on Thursday, January 9th. Eight investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.79.
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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