Cognizant Technology Solutions Corp (CTSH) Shares Sold by RiverPark Advisors LLC

RiverPark Advisors LLC trimmed its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 18.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 267,500 shares of the information technology service provider’s stock after selling 60,500 shares during the quarter. Cognizant Technology Solutions makes up 2.6% of RiverPark Advisors LLC’s portfolio, making the stock its 18th biggest holding. RiverPark Advisors LLC’s holdings in Cognizant Technology Solutions were worth $19,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its position in Cognizant Technology Solutions by 10.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 50,631 shares of the information technology service provider’s stock worth $3,673,000 after purchasing an additional 4,936 shares in the last quarter. First Republic Investment Management Inc. boosted its position in Cognizant Technology Solutions by 1.3% during the third quarter. First Republic Investment Management Inc. now owns 809,739 shares of the information technology service provider’s stock worth $58,739,000 after purchasing an additional 10,021 shares in the last quarter. Sather Financial Group Inc boosted its position in Cognizant Technology Solutions by 1.6% during the third quarter. Sather Financial Group Inc now owns 352,797 shares of the information technology service provider’s stock worth $25,592,000 after purchasing an additional 5,635 shares in the last quarter. AMP Capital Investors Ltd boosted its position in Cognizant Technology Solutions by 32.6% during the third quarter. AMP Capital Investors Ltd now owns 397,958 shares of the information technology service provider’s stock worth $28,869,000 after purchasing an additional 97,949 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in Cognizant Technology Solutions by 1.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 80,563 shares of the information technology service provider’s stock worth $5,844,000 after purchasing an additional 1,465 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $71.50 on Thursday. The company has a market capitalization of $41,463.84, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corp has a 12 month low of $51.52 and a 12 month high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 3.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, November 17th. This represents a $0.60 annualized dividend and a yield of 0.84%. Cognizant Technology Solutions’s dividend payout ratio is presently 18.52%.

In other Cognizant Technology Solutions news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $72.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the insider now directly owns 311,923 shares in the company, valued at $22,458,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gajakarnan Vibushanan Kandiah sold 1,954 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $71.26, for a total value of $139,242.04. Following the sale, the insider now owns 10,515 shares of the company’s stock, valued at $749,298.90. The disclosure for this sale can be found here. Insiders have sold 650,317 shares of company stock valued at $46,964,889 over the last 90 days. 1.08% of the stock is currently owned by insiders.

CTSH has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, August 9th. KeyCorp reiterated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Cowen reiterated a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Jefferies Group restated a “buy” rating and issued a $81.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Finally, Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $81.91.

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Cognizant Technology Solutions 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.

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

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