Barrett Asset Management LLC lessened its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 412,827 shares of the information technology service provider’s stock after selling 4,950 shares during the period. Cognizant Technology Solutions comprises approximately 2.2% of Barrett Asset Management LLC’s investment portfolio, making the stock its 18th largest holding. Barrett Asset Management LLC owned 0.07% of Cognizant Technology Solutions worth $29,946,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Linscomb & Williams Inc. bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $278,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Cognizant Technology Solutions by 45.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after acquiring an additional 44,982 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in shares of Cognizant Technology Solutions by 57.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after acquiring an additional 2,178,800 shares during the last quarter. Oak Ridge Investments LLC lifted its stake in shares of Cognizant Technology Solutions by 7.1% in the 2nd quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock valued at $11,264,000 after acquiring an additional 11,316 shares during the last quarter. Finally, Atlantic Trust Group LLC lifted its stake in shares of Cognizant Technology Solutions by 1.3% in the 2nd quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock valued at $42,300,000 after acquiring an additional 8,245 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.
In other Cognizant Technology Solutions news, insider Debashis Chatterjee sold 2,190 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $74.00, for a total value of $162,060.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $72.00, for a total transaction of $1,800,000.00. Following the sale, the insider now owns 311,923 shares in the company, valued at approximately $22,458,456. The disclosure for this sale can be found here. Insiders have sold 652,405 shares of company stock worth $47,111,645 in the last quarter. 1.08% of the stock is owned by corporate insiders.
Shares of Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $71.61 on Friday. The stock 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. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a fifty-two week low of $51.52 and a fifty-two week high of $76.51.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued 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. Cognizant Technology Solutions 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 the consensus estimate of $3.77 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. research analysts predict that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is currently 18.58%.
CTSH has been the subject of a number of recent research reports. Barclays increased their price objective on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and set a $77.00 price target on shares of Cognizant Technology Solutions in a report on Sunday, October 8th. Zacks Investment Research downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Robert W. Baird raised their target price on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Finally, Pivotal Research assumed coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, November 8th. They issued a “buy” rating and a $93.00 price target on the stock. 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 company. Cognizant Technology Solutions currently has an average rating of “Buy” and a consensus price target of $81.91.
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About Cognizant Technology Solutions
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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