Nordea Investment Management AB increased its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,076,020 shares of the information technology service provider’s stock after purchasing an additional 313,364 shares during the period. Cognizant Technology Solutions accounts for approximately 1.8% of Nordea Investment Management AB’s holdings, making the stock its 12th largest position. Nordea Investment Management AB owned about 1.71% of Cognizant Technology Solutions worth $730,914,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Acrospire Investment Management LLC raised its position in shares of Cognizant Technology Solutions by 92.6% in the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after buying an additional 800 shares in the last quarter. WFG Advisors LP raised its position in Cognizant Technology Solutions by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after purchasing an additional 621 shares in the last quarter. Krilogy Financial LLC acquired a new position in Cognizant Technology Solutions during the second quarter valued at approximately $137,000. Fuller & Thaler Asset Management Inc. acquired a new position in Cognizant Technology Solutions during the third quarter valued at approximately $167,000. Finally, Manchester Capital Management LLC grew its stake in shares of Cognizant Technology Solutions by 15.7% during the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after buying an additional 370 shares during the last quarter. Institutional investors own 87.06% of the company’s stock.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $70.32 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corp has a 12-month low of $51.52 and a 12-month high of $76.51. The firm has a market cap of $42,077.07, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.61 and a beta of 1.07.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Cognizant Technology Solutions’s revenue was up 9.1% on a year-over-year basis. analysts expect that Cognizant Technology Solutions Corp will post 3.35 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 18.52%.
Several brokerages recently weighed in on CTSH. BidaskClub cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday. Vetr upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 target price on the stock in a report on Tuesday, September 19th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Needham & Company LLC reissued a “buy” rating and set a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, August 9th. Finally, Berenberg Bank raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $85.00 in a report on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $81.91.
In other Cognizant Technology Solutions news, insider Gajakarnan Vibushanan Kandiah sold 1,954 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $71.26, for a total transaction of $139,242.04. Following the completion of the transaction, the insider now directly owns 10,515 shares of the company’s stock, valued at approximately $749,298.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Patrick Lennox sold 1,725 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $71.57, for a total transaction of $123,458.25. Following the transaction, the executive vice president now directly owns 8,407 shares of the company’s stock, valued at $601,688.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 652,042 shares of company stock worth $47,088,347. 1.08% of the stock is owned by company insiders.
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Cognizant Technology Solutions 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.
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