Banque Pictet & Cie SA Trims Stake in Cognizant (CTSH)

Banque Pictet & Cie SA cut its position in Cognizant (NASDAQ:CTSH) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 418,954 shares of the information technology service provider’s stock after selling 4,352 shares during the period. Banque Pictet & Cie SA’s holdings in Cognizant were worth $33,726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Linscomb & Williams Inc. grew its stake in shares of Cognizant by 16.6% in the 1st quarter. Linscomb & Williams Inc. now owns 4,668 shares of the information technology service provider’s stock valued at $376,000 after buying an additional 664 shares during the period. Robecosam AG boosted its stake in Cognizant by 0.5% during the 4th quarter. Robecosam AG now owns 130,917 shares of the information technology service provider’s stock valued at $9,346,000 after purchasing an additional 686 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Cognizant by 1.3% during the 1st quarter. D.A. Davidson & CO. now owns 55,162 shares of the information technology service provider’s stock valued at $4,441,000 after purchasing an additional 702 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Cognizant by 0.8% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,043 shares of the information technology service provider’s stock valued at $6,371,000 after purchasing an additional 743 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC boosted its stake in Cognizant by 22.6% during the 4th quarter. Osborn Williams & Donohoe LLC now owns 4,230 shares of the information technology service provider’s stock valued at $300,000 after purchasing an additional 780 shares during the last quarter. Institutional investors own 88.74% of the company’s stock.

Shares of NASDAQ CTSH opened at $75.78 on Friday. Cognizant has a twelve month low of $75.39 and a twelve month high of $75.87. The company has a market capitalization of $44.21 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. The company has a current ratio of 3.64, a quick ratio of 3.64 and a debt-to-equity ratio of 0.06.

Cognizant (NASDAQ:CTSH) last posted its quarterly earnings results on Monday, May 7th. The information technology service provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Cognizant had a net margin of 9.67% and a return on equity of 20.48%. Cognizant’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. analysts forecast that Cognizant will post 4.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.06%. Cognizant’s dividend payout ratio (DPR) is presently 22.66%.

A number of equities analysts have issued reports on the company. BidaskClub upgraded Cognizant from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Argus upgraded Cognizant from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.80 to $100.00 in a research note on Thursday, February 22nd. Zacks Investment Research upgraded Cognizant from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Tuesday, May 1st. ValuEngine upgraded Cognizant from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Sanford C. Bernstein assumed coverage on Cognizant in a research note on Wednesday, March 28th. They set a “market perform” rating and a $57.50 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Cognizant has an average rating of “Buy” and an average price target of $84.30.

In related news, COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $82.29, for a total value of $205,725.00. Following the sale, the chief operating officer now owns 23,794 shares of the company’s stock, valued at approximately $1,958,008.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sumithra Gomatam sold 1,060 shares of Cognizant stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $80.50, for a total transaction of $85,330.00. Following the completion of the sale, the insider now directly owns 8,189 shares in the company, valued at approximately $659,214.50. The disclosure for this sale can be found here. Insiders sold a total of 44,684 shares of company stock worth $3,700,068 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Cognizant 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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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Institutional Ownership by Quarter for Cognizant (NASDAQ:CTSH)

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