Meridian Management Co. Sells 11,471 Shares of Cognizant Technology Solutions Corporation (CTSH)

Meridian Management Co. reduced its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 27.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,950 shares of the information technology service provider’s stock after selling 11,471 shares during the period. Cognizant Technology Solutions Corporation accounts for about 1.1% of Meridian Management Co.’s portfolio, making the stock its 24th largest holding. Meridian Management Co.’s holdings in Cognizant Technology Solutions Corporation were worth $2,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Linscomb & Williams Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation during the 3rd quarter worth approximately $278,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Cognizant Technology Solutions Corporation by 45.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock worth $10,401,000 after purchasing an additional 44,982 shares during the last quarter. Comgest Global Investors S.A.S. boosted its holdings in shares of Cognizant Technology Solutions Corporation by 57.7% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock worth $395,400,000 after purchasing an additional 2,178,800 shares during the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Cognizant Technology Solutions Corporation by 7.1% during the 2nd quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock worth $11,264,000 after purchasing an additional 11,316 shares during the last quarter. Finally, Atlantic Trust Group LLC boosted its holdings in shares of Cognizant Technology Solutions Corporation by 1.3% during the 2nd quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock worth $42,300,000 after purchasing an additional 8,245 shares during the last quarter. Institutional investors and hedge funds own 87.42% of the company’s stock.

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Cognizant Technology Solutions Corporation (CTSH) traded up $0.32 during trading on Friday, hitting $74.26. The stock had a trading volume of 2,591,800 shares, compared to its average volume of 3,281,177. Cognizant Technology Solutions Corporation has a 1-year low of $51.35 and a 1-year high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market capitalization 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.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. equities research analysts expect that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 18.52%.

In related news, insider Sumithra Gomatam sold 3,163 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $76.00, for a total value of $240,388.00. Following the transaction, the insider now owns 6,346 shares of the company’s stock, valued at $482,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the transaction, the insider now directly owns 360,856 shares in the company, valued at approximately $25,259,920. The disclosure for this sale can be found here. Insiders sold 269,880 shares of company stock worth $19,423,948 in the last three months. 1.08% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on CTSH shares. Royal Bank Of Canada restated a “buy” rating and set a $77.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Sunday, October 8th. Robert W. Baird upped their price objective on Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Tuesday, October 10th. Vetr upgraded Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price objective on the stock in a report on Tuesday, September 19th. Finally, Wedbush reiterated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a report on Monday, September 18th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $81.19.

Cognizant Technology Solutions Corporation Profile

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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