1,245 Shares in Cognizant Technology Solutions Corp (CTSH) Purchased by Rainier Group Investment Advisory LLC

Rainier Group Investment Advisory LLC acquired a new position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,245 shares of the information technology service provider’s stock, valued at approximately $100,000.

Several other institutional investors and hedge funds have also made changes to their positions in CTSH. BlackRock Inc. lifted its holdings in shares of Cognizant Technology Solutions by 10.9% in the 1st quarter. BlackRock Inc. now owns 40,069,496 shares of the information technology service provider’s stock worth $3,225,593,000 after acquiring an additional 3,948,014 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Cognizant Technology Solutions by 296.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,422,593 shares of the information technology service provider’s stock worth $314,093,000 after acquiring an additional 3,307,799 shares during the last quarter. Winslow Capital Management LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $217,524,000. Alliancebernstein L.P. lifted its holdings in shares of Cognizant Technology Solutions by 30.1% in the 4th quarter. Alliancebernstein L.P. now owns 6,309,025 shares of the information technology service provider’s stock worth $448,067,000 after acquiring an additional 1,458,220 shares during the last quarter. Finally, Comgest Global Investors S.A.S. raised its holdings in Cognizant Technology Solutions by 18.3% during the 4th quarter. Comgest Global Investors S.A.S. now owns 8,774,817 shares of the information technology service provider’s stock valued at $623,188,000 after buying an additional 1,358,200 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

A number of research firms recently commented on CTSH. BidaskClub lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 18th. ValuEngine lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, May 7th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Tuesday, May 1st. Pivotal Research reiterated a “buy” rating and set a $91.00 price target on shares of Cognizant Technology Solutions in a report on Monday, May 7th. Finally, Morgan Stanley lowered their price target on shares of Cognizant Technology Solutions to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $86.09.

In related news, CFO Karen Mcloughlin sold 1,386 shares of the stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $76.87, for a total value of $106,541.82. Following the completion of the sale, the chief financial officer now directly owns 43,887 shares of the company’s stock, valued at approximately $3,373,593.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $82.29, for a total transaction of $205,725.00. Following the completion of the sale, the chief operating officer now directly owns 23,794 shares of the company’s stock, valued at $1,958,008.26. The disclosure for this sale can be found here. Insiders sold a total of 15,378 shares of company stock valued at $1,195,734 over the last three months. 0.60% of the stock is currently owned by insiders.

Cognizant Technology Solutions traded up $0.84, hitting $78.86, during midday trading on Thursday, according to MarketBeat Ratings. 17,244 shares of the company traded hands, compared to its average volume of 3,603,452. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.64 and a current ratio of 3.64. The stock has a market capitalization of $45.10 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.47 and a beta of 1.05. Cognizant Technology Solutions Corp has a 52 week low of $65.60 and a 52 week high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Monday, May 7th. The information technology service provider reported $1.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.06. Cognizant Technology Solutions had a net margin of 9.67% and a return on equity of 20.48%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the business earned $0.84 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis. research analysts forecast that Cognizant Technology Solutions Corp will post 4.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Tuesday, May 22nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, May 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.66%.

Cognizant Technology Solutions 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 Technology Solutions (NASDAQ:CTSH)

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