Cognizant Technology Solutions Corp (NASDAQ:CTSH) Shares Bought by Oxbow Advisors LLC

Oxbow Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 40,365 shares of the information technology service provider’s stock after buying an additional 1,865 shares during the quarter. Oxbow Advisors LLC’s holdings in Cognizant Technology Solutions were worth $2,503,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CTSH. BlackRock Inc. raised its position in shares of Cognizant Technology Solutions by 3.7% in the second quarter. BlackRock Inc. now owns 48,909,575 shares of the information technology service provider’s stock valued at $3,100,379,000 after buying an additional 1,756,108 shares during the last quarter. State Street Corp raised its position in shares of Cognizant Technology Solutions by 2.2% in the fourth quarter. State Street Corp now owns 23,190,247 shares of the information technology service provider’s stock valued at $1,438,259,000 after buying an additional 498,861 shares during the last quarter. Generation Investment Management LLP raised its position in shares of Cognizant Technology Solutions by 24.8% in the third quarter. Generation Investment Management LLP now owns 13,055,572 shares of the information technology service provider’s stock valued at $786,794,000 after buying an additional 2,597,844 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Cognizant Technology Solutions by 7.8% in the third 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 buying an additional 285,994 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Cognizant Technology Solutions by 68.2% in the fourth quarter. First Trust Advisors LP now owns 3,548,037 shares of the information technology service provider’s stock valued at $220,049,000 after buying an additional 1,438,553 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

A number of equities analysts have recently weighed in on CTSH shares. BMO Capital Markets cut their price objective on shares of Cognizant Technology Solutions to $75.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Needham & Company LLC lowered shares of Cognizant Technology Solutions from a “hold” rating to an “underperform” rating in a research report on Friday, November 22nd. Wolfe Research lowered shares of Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $65.00 price target for the company. in a research report on Monday, January 6th. Wells Fargo & Co upped their price target on shares of Cognizant Technology Solutions from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Berenberg Bank began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, January 21st. They set a “hold” rating and a $63.00 price target for the company. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $68.24.

CTSH stock traded down $1.19 on Friday, hitting $68.42. 4,148,284 shares of the company were exchanged, compared to its average volume of 3,409,903. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.53. Cognizant Technology Solutions Corp has a twelve month low of $56.73 and a twelve month high of $74.85. The business’s fifty day moving average is $63.20 and its two-hundred day moving average is $62.36. The stock has a market capitalization of $38.02 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 20.60%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions Corp will post 4.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.22 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, February 14th. Cognizant Technology Solutions’s payout ratio is currently 20.05%.

Cognizant Technology Solutions declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology service provider to repurchase up to 5.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other Cognizant Technology Solutions news, Director John E. Klein sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $63.94, for a total transaction of $639,400.00. Following the completion of the sale, the director now directly owns 459,987 shares in the company, valued at $29,411,568.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Francisco Dsouza sold 62,178 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.62, for a total transaction of $3,955,764.36. Following the sale, the director now owns 526,227 shares of the company’s stock, valued at $33,478,561.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,189 shares of company stock valued at $19,422,499. 0.56% of the stock is owned by insiders.

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.

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

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