Beacon Investment Advisory Services Inc. Invests $729,000 in Cognizant Technology Solutions Corp (CTSH)

Beacon Investment Advisory Services Inc. bought a new position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,045 shares of the information technology service provider’s stock, valued at approximately $729,000.

Other large investors have also recently modified their holdings of the company. FMR LLC grew its stake in Cognizant Technology Solutions by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after purchasing an additional 11,262,360 shares during the period. Edgewood Management LLC grew its stake in Cognizant Technology Solutions by 9.3% in the 3rd quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock valued at $1,227,063,000 after purchasing an additional 1,443,368 shares during the period. Nordea Investment Management AB grew its stake in shares of Cognizant Technology Solutions by 3.2% during the 3rd quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock worth $730,914,000 after acquiring an additional 313,364 shares during the period. Comgest Global Investors S.A.S. grew its stake in shares of Cognizant Technology Solutions by 24.5% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after acquiring an additional 1,461,800 shares during the period. Finally, Pzena Investment Management LLC grew its stake in shares of Cognizant Technology Solutions by 4.4% during the 2nd quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock worth $465,522,000 after acquiring an additional 296,899 shares during the period. 87.06% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $71.56 on Tuesday. The firm has a market capitalization of $42,348.30, a PE ratio of 21.44, a P/E/G ratio of 1.62 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 1-year low of $51.52 and a 1-year high of $76.51.

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

The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were paid a $0.15 dividend. The ex-dividend date was Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 18.52%.

Several research analysts have recently weighed in on the company. BMO Capital Markets reiterated a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, December 5th. BidaskClub downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Vetr upgraded Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price target for the company in a research note on Wednesday, November 29th. Pivotal Research assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, November 8th. They set a “buy” rating and a $93.00 price target for the company. Finally, Zacks Investment Research downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Six research 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 has an average rating of “Buy” and a consensus target price of $81.91.

In other Cognizant Technology Solutions news, President Rajeev Mehta sold 34,437 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $72.54, for a total value of $2,498,059.98. Following the transaction, the president now directly owns 170,063 shares of the company’s stock, valued at approximately $12,336,370.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sumithra Gomatam sold 3,163 shares of Cognizant Technology Solutions stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 6,346 shares in the company, valued at $482,296. The disclosure for this sale can be found here. Insiders sold a total of 593,014 shares of company stock worth $42,784,474 over the last ninety days. Insiders own 1.08% of the company’s stock.

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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.

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

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