Personal Capital Advisors Corp acquired a new position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,066 shares of the information technology service provider’s stock, valued at approximately $237,000.
Other institutional investors have also bought and sold shares of the company. Rainier Group Investment Advisory LLC bought a new stake in shares of Cognizant Technology Solutions during the first quarter worth $100,000. Kaizen Advisory LLC raised its position in shares of Cognizant Technology Solutions by 149.4% during the second quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock worth $113,000 after acquiring an additional 856 shares during the last quarter. Fort L.P. bought a new stake in shares of Cognizant Technology Solutions during the second quarter worth $123,000. San Francisco Sentry Investment Group CA raised its position in shares of Cognizant Technology Solutions by 170.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock worth $151,000 after acquiring an additional 1,202 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Cognizant Technology Solutions by 65.5% during the second quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock worth $175,000 after acquiring an additional 881 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors.
In other Cognizant Technology Solutions news, President Rajeev Mehta sold 22,239 shares of the stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $75.86, for a total value of $1,687,050.54. Following the completion of the sale, the president now directly owns 352 shares in the company, valued at $26,702.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert Telesmanic sold 17,986 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $77.62, for a total value of $1,396,073.32. The disclosure for this sale can be found here. Insiders sold 48,288 shares of company stock valued at $3,694,551 in the last quarter. 0.60% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently weighed in on the company. BidaskClub downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. BMO Capital Markets restated a “buy” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, August 2nd. Wolfe Research assumed coverage on Cognizant Technology Solutions in a research report on Tuesday, July 17th. They set a “market perform” rating for the company. Moffett Nathanson assumed coverage on Cognizant Technology Solutions in a research report on Thursday, October 4th. They set a “neutral” rating and a $85.00 target price for the company. Finally, Cowen restated a “buy” rating and set a $87.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Cognizant Technology Solutions currently has an average rating of “Buy” and an average target price of $85.73.
NASDAQ CTSH opened at $72.17 on Friday. The stock has a market capitalization of $44.76 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.42 and a beta of 0.90. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Corp has a 12 month low of $69.69 and a 12 month high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, August 2nd. The information technology service provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.09. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.03 billion. Cognizant Technology Solutions had a return on equity of 21.66% and a net margin of 9.37%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 earnings per share. On average, equities research analysts predict that Cognizant Technology Solutions Corp will post 4.18 EPS for the current year.
About Cognizant Technology Solutions
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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