CENTRAL TRUST Co reduced its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,518 shares of the information technology service provider’s stock after selling 198 shares during the period. CENTRAL TRUST Co’s holdings in Cognizant Technology Solutions were worth $413,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp acquired a new stake in Cognizant Technology Solutions in the second quarter valued at $631,000. OppenheimerFunds Inc. lifted its holdings in Cognizant Technology Solutions by 55.3% in the second quarter. OppenheimerFunds Inc. now owns 25,863 shares of the information technology service provider’s stock valued at $2,043,000 after acquiring an additional 9,208 shares during the period. Natixis acquired a new stake in Cognizant Technology Solutions in the second quarter valued at $8,902,000. Macquarie Group Ltd. lifted its holdings in Cognizant Technology Solutions by 34.5% in the second quarter. Macquarie Group Ltd. now owns 85,352 shares of the information technology service provider’s stock valued at $6,742,000 after acquiring an additional 21,894 shares during the period. Finally, Colony Group LLC lifted its holdings in Cognizant Technology Solutions by 62.0% in the second quarter. Colony Group LLC now owns 4,095 shares of the information technology service provider’s stock valued at $323,000 after acquiring an additional 1,567 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.
Cognizant Technology Solutions stock opened at $64.92 on Friday. The stock has a market cap of $37.21 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.27 and a beta of 0.97. Cognizant Technology Solutions Corp has a 52 week low of $59.47 and a 52 week high of $85.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Cognizant Technology Solutions Corp will post 4.12 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Friday. HSBC raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. BMO Capital Markets reaffirmed a “hold” rating and set a $75.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, November 20th. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, November 20th. They set a “hold” rating and a $70.00 price target for the company. Finally, Moffett Nathanson assumed coverage on Cognizant Technology Solutions in a research note on Thursday, October 4th. They set a “neutral” rating and a $85.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $81.81.
In other Cognizant Technology Solutions news, EVP Allen Shaheen sold 1,232 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $71.51, for a total value of $88,100.32. Following the completion of the sale, the executive vice president now owns 6,120 shares in the company, valued at approximately $437,641.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Malcolm Frank sold 7,251 shares of Cognizant Technology Solutions stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $61.88, for a total value of $448,691.88. Following the completion of the sale, the vice president now owns 26,289 shares of the company’s stock, valued at approximately $1,626,763.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,357 shares of company stock valued at $1,687,955. 0.60% of the stock is currently owned by company insiders.
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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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