Harbour Capital Advisors LLC Sells 3,080 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Harbour Capital Advisors LLC lowered its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 44.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,905 shares of the information technology service provider’s stock after selling 3,080 shares during the period. Harbour Capital Advisors LLC’s holdings in Cognizant Technology Solutions were worth $283,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Acrospire Investment Management LLC lifted its position in 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 worth $110,000 after purchasing an additional 800 shares during the period. WFG Advisors LP lifted its position in Cognizant Technology Solutions by 46.4% in the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Krilogy Financial LLC acquired a new stake in Cognizant Technology Solutions in the second quarter worth approximately $137,000. Manchester Capital Management LLC lifted its position in Cognizant Technology Solutions by 15.7% in the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after purchasing an additional 370 shares during the period. Finally, First National Trust Co. acquired a new stake in Cognizant Technology Solutions in the second quarter worth approximately $207,000. 87.06% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald restated a “buy” rating and issued a $78.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Oppenheimer reiterated a “buy” rating and set a $80.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Needham & Company LLC upgraded Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating and increased their price objective for the company from $78.00 to $90.00 in a research report on Wednesday, November 1st. William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $89.00 price objective (up previously from $80.00) on shares of Cognizant Technology Solutions in a research report on Thursday, November 2nd. Six analysts have rated the stock with a hold rating, twenty have assigned 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 $81.91.

In other Cognizant Technology Solutions news, insider Sumithra Gomatam sold 3,163 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $76.00, for a total value of $240,388.00. Following the completion of the transaction, the insider now directly owns 6,346 shares in the company, valued at approximately $482,296. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gajakarnan Vibushanan Kandiah sold 1,954 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $71.26, for a total transaction of $139,242.04. Following the sale, the insider now owns 10,515 shares of the company’s stock, valued at $749,298.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 654,359 shares of company stock worth $47,250,887. 1.08% of the stock is owned by company insiders.

Cognizant Technology Solutions Corp (NASDAQ CTSH) traded up $0.11 on Thursday, reaching $71.61. 5,680,559 shares of the company’s stock were exchanged, compared to its average volume of 3,987,745. The firm has a market cap of $42,140.00, a price-to-earnings ratio of 21.02, a PEG ratio of 1.59 and a beta of 1.07. Cognizant Technology Solutions Corp has a 12-month low of $51.52 and a 12-month 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.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.85 by $0.13. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. equities analysts forecast that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. Cognizant Technology Solutions’s dividend payout ratio is presently 18.58%.

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Cognizant Technology Solutions Company 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 (NASDAQ:CTSH)

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