2,005 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) during the third quarter, according to its most recent filing with the SEC. The fund purchased 2,005 shares of the information technology service provider’s stock, valued at approximately $155,000.

Several other hedge funds have also bought and sold shares of CTSH. Cibc World Market Inc. increased its holdings in shares of Cognizant Technology Solutions by 19,850.5% in the second quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock worth $205,096,000 after purchasing an additional 3,000,996 shares during the last quarter. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after acquiring an additional 1,943,127 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Cognizant Technology Solutions by 152.8% during the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock worth $146,132,000 after acquiring an additional 1,281,236 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Cognizant Technology Solutions by 276.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock valued at $122,603,000 after acquiring an additional 1,167,033 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Cognizant Technology Solutions by 146.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after purchasing an additional 978,579 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 3.4 %

CTSH stock opened at $78.26 on Thursday. The company has a market capitalization of $38.80 billion, a PE ratio of 17.31, a P/E/G ratio of 2.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a 12 month low of $63.79 and a 12 month high of $82.46. The firm’s 50-day moving average is $78.47 and its 200 day moving average is $74.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CTSH. Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $80.00 to $95.00 in a research note on Tuesday. TD Cowen raised their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $80.35.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

About Cognizant Technology Solutions

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, Health Sciences, Products and Resources, and Communications, Media and Technology.