Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 13.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,458 shares of the information technology service provider’s stock after purchasing an additional 17,000 shares during the period. Forsta AP Fonden’s holdings in Cognizant Technology Solutions were worth $12,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. MV Capital Management Inc. grew its position in shares of Cognizant Technology Solutions by 94.8% in the fourth quarter. MV Capital Management Inc. now owns 302 shares of the information technology service provider’s stock valued at $27,000 after purchasing an additional 147 shares in the last quarter. Cornerstone Advisory LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $27,000. Hardy Reed LLC purchased a new position in Cognizant Technology Solutions in the first quarter worth approximately $27,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Cognizant Technology Solutions by 1,433.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 460 shares of the information technology service provider’s stock worth $41,000 after acquiring an additional 430 shares during the period. Finally, AdvisorNet Financial Inc grew its position in Cognizant Technology Solutions by 44.4% in the first quarter. AdvisorNet Financial Inc now owns 478 shares of the information technology service provider’s stock worth $43,000 after acquiring an additional 147 shares during the period. 90.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Michael Patsalos-Fox sold 5,687 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total transaction of $423,112.80. Following the transaction, the director now owns 57,534 shares of the company’s stock, valued at $4,280,529.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 5,687 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the sale, the director now owns 57,534 shares of the company’s stock, valued at approximately $4,280,529.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the completion of the sale, the executive vice president now directly owns 5,872 shares in the company, valued at approximately $453,553.28. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.0 %

Cognizant Technology Solutions stock opened at $68.72 on Friday. Cognizant Technology Solutions Co. has a 1-year low of $63.26 and a 1-year high of $93.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market cap of $35.58 billion, a PE ratio of 15.94, a P/E/G ratio of 1.38 and a beta of 1.05. The stock’s fifty day moving average is $68.76 and its two-hundred day moving average is $79.03.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.92 billion. During the same period last year, the firm earned $0.99 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.54 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Friday, August 19th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 25.06%.

Analysts Set New Price Targets

CTSH has been the subject of several analyst reports. Susquehanna Bancshares lowered their price objective on Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th. UBS Group lowered their price objective on Cognizant Technology Solutions from $89.00 to $76.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Citigroup lowered their price target on Cognizant Technology Solutions from $88.00 to $77.00 in a research report on Thursday, July 28th. Barclays lowered their price target on Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, July 19th. Finally, Cowen lowered Cognizant Technology Solutions to a “market perform” rating and lowered their price target for the stock from $86.00 to $75.00 in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.79.

About Cognizant Technology Solutions

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Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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