Ingalls & Snyder LLC reduced its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,207 shares of the information technology service provider’s stock after selling 3,731 shares during the period. Ingalls & Snyder LLC’s holdings in Cognizant Technology Solutions were worth $2,432,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. North Star Investment Management Corp. acquired a new stake in Cognizant Technology Solutions in the third quarter worth $25,000. Simon Quick Advisors LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth $37,000. LFA Lugano Financial Advisors SA acquired a new stake in Cognizant Technology Solutions in the fourth quarter worth $70,000. CSat Investment Advisory L.P. increased its position in Cognizant Technology Solutions by 1,027.3% in the second quarter. CSat Investment Advisory L.P. now owns 1,116 shares of the information technology service provider’s stock worth $71,000 after buying an additional 1,017 shares during the period. Finally, Cascade Investment Advisors Inc. increased its position in Cognizant Technology Solutions by 100.0% in the third quarter. Cascade Investment Advisors Inc. now owns 1,400 shares of the information technology service provider’s stock worth $84,000 after buying an additional 700 shares during the period. 90.61% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director John E. Klein sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $63.94, for a total transaction of $639,400.00. Following the completion of the transaction, the director now owns 459,987 shares of the company’s stock, valued at $29,411,568.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Francisco Dsouza sold 62,177 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $60.87, for a total value of $3,784,713.99. Following the transaction, the director now directly owns 289,564 shares of the company’s stock, valued at approximately $17,625,760.68. The disclosure for this sale can be found here. Insiders have sold 231,891 shares of company stock valued at $14,392,352 in the last ninety days. Company insiders own 0.56% of the company’s stock.
Several equities research analysts have weighed in on CTSH shares. Credit Suisse Group dropped their target price on Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Barclays started coverage on Cognizant Technology Solutions in a research report on Friday, September 20th. They issued an “underweight” rating and a $64.00 target price on the stock. Citigroup dropped their target price on Cognizant Technology Solutions from $76.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Co raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $62.00 to $70.00 in a research report on Thursday, January 9th. Finally, ValuEngine raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $70.79.
NASDAQ:CTSH opened at $61.85 on Thursday. Cognizant Technology Solutions Corp has a 1 year low of $56.73 and a 1 year high of $74.85. The stock has a market cap of $33.60 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.35 and a beta of 1.02. The business has a fifty day moving average of $62.10 and a 200-day moving average of $62.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.53 and a current ratio of 2.53.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. Cognizant Technology Solutions had a return on equity of 20.23% and a net margin of 12.60%. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Corp will post 3.97 EPS for the current year.
Cognizant Technology Solutions 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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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