CIBC Asset Management Inc boosted its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,075 shares of the information technology service provider’s stock after buying an additional 3,502 shares during the quarter. CIBC Asset Management Inc’s holdings in Cognizant Technology Solutions were worth $5,474,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Linscomb & Williams Inc. acquired a new stake in Cognizant Technology Solutions during the 3rd quarter worth approximately $278,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Cognizant Technology Solutions by 45.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after purchasing an additional 44,982 shares in the last quarter. Rothschild Asset Management Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at $12,538,000. Tandem Investment Advisors Inc. raised its holdings in shares of Cognizant Technology Solutions by 164.0% in the 4th quarter. Tandem Investment Advisors Inc. now owns 42,030 shares of the information technology service provider’s stock valued at $2,985,000 after purchasing an additional 26,111 shares in the last quarter. Finally, Aurora Investment Counsel acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at $1,252,000. Institutional investors own 86.95% of the company’s stock.
In other Cognizant Technology Solutions news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $75.44, for a total transaction of $1,886,000.00. Following the transaction, the insider now directly owns 271,300 shares of the company’s stock, valued at approximately $20,466,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Malcolm Frank sold 9,462 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $70.61, for a total transaction of $668,111.82. Following the transaction, the vice president now directly owns 15,533 shares in the company, valued at $1,096,785.13. The disclosure for this sale can be found here. Insiders have sold a total of 961,064 shares of company stock worth $70,504,403 over the last quarter. 1.08% of the stock is owned by company insiders.
Shares of Cognizant Technology Solutions Corp (CTSH) opened at $73.29 on Tuesday. Cognizant Technology Solutions Corp has a one year low of $52.44 and a one year high of $78.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. The company has a market cap of $44,647.92, a price-to-earnings ratio of 22.60, a P/E/G ratio of 1.52 and a beta of 1.11.
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. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. 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 business earned $0.86 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts predict that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on CTSH. Morgan Stanley raised their price objective on shares of Cognizant Technology Solutions from $77.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday. BidaskClub upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Citigroup upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and raised their price objective for the company from $75.84 to $79.00 in a report on Thursday, January 18th. Finally, Barclays restated a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $82.25.
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.
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