Cognizant Technology Solutions Corporation (CTSH) Position Lifted by HM Payson & Co.

HM Payson & Co. increased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 19.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,510 shares of the information technology service provider’s stock after buying an additional 2,668 shares during the period. HM Payson & Co.’s holdings in Cognizant Technology Solutions Corporation were worth $1,198,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Cornerstone Advisors Inc. increased its stake in Cognizant Technology Solutions Corporation by 0.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock worth $241,000 after buying an additional 11 shares during the period. First Capital Advisors Group LLC. increased its stake in Cognizant Technology Solutions Corporation by 0.9% in the 2nd quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock worth $244,000 after buying an additional 32 shares during the period. Comerica Securities Inc. increased its stake in Cognizant Technology Solutions Corporation by 0.4% in the 2nd quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock worth $519,000 after buying an additional 32 shares during the period. CENTRAL TRUST Co increased its stake in Cognizant Technology Solutions Corporation by 0.5% in the 2nd quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock worth $425,000 after buying an additional 35 shares during the period. Finally, CWA Asset Management Group LLC increased its stake in Cognizant Technology Solutions Corporation by 1.0% in the 2nd quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock worth $380,000 after buying an additional 57 shares during the period. 87.42% of the stock is currently owned by institutional investors.

CTSH has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Tuesday, October 10th. Robert W. Baird increased their target price on shares of Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Bank of America Corporation reiterated a “buy” rating and set a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $85.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Friday, November 3rd. Finally, KeyCorp reiterated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Friday, September 8th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $81.19.

In other Cognizant Technology Solutions Corporation news, Director Leo S. Jr. Mackay sold 14,247 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $74.80, for a total transaction of $1,065,675.60. Following the completion of the transaction, the director now directly owns 12,577 shares of the company’s stock, valued at approximately $940,759.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Venkat Krishnaswamy sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $75.00, for a total transaction of $300,000.00. Following the transaction, the insider now directly owns 3,919 shares of the company’s stock, valued at $293,925. The disclosure for this sale can be found here. Insiders have sold a total of 269,880 shares of company stock valued at $19,423,948 over the last three months. 1.08% of the stock is currently owned by insiders.

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Shares of Cognizant Technology Solutions Corporation (CTSH) traded up $0.32 during trading on Friday, hitting $74.26. 2,591,800 shares of the company traded hands, compared to its average volume of 3,281,177. The stock has a market cap of $43,787.04, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.67 and a beta of 1.10. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corporation has a 52-week low of $51.35 and a 52-week high of $76.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm posted $0.86 EPS. Cognizant Technology Solutions Corporation’s revenue was up 9.1% on a year-over-year basis. analysts anticipate that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 18.52%.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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