Addenda Capital Inc. Cuts Holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Addenda Capital Inc. decreased its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,657 shares of the information technology service provider’s stock after selling 12,137 shares during the period. Addenda Capital Inc.’s holdings in Cognizant Technology Solutions were worth $6,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTSH. Acrospire Investment Management LLC raised its position in shares of Cognizant Technology Solutions by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after acquiring an additional 800 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth about $121,000. WFG Advisors LP raised its position in shares of Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after acquiring an additional 621 shares in the last quarter. Krilogy Financial LLC acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth about $137,000. Finally, BB&T Investment Services Inc. raised its position in shares of Cognizant Technology Solutions by 86.8% during the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after acquiring an additional 1,011 shares in the last quarter. 86.17% of the stock is currently owned by hedge funds and other institutional investors.

In other news, President Rajeev Mehta sold 42,563 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $77.50, for a total value of $3,298,632.50. Following the completion of the sale, the president now owns 35,020 shares of the company’s stock, valued at $2,714,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Venkat Krishnaswamy sold 4,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $75.00, for a total value of $300,000.00. Following the completion of the sale, the insider now directly owns 3,919 shares of the company’s stock, valued at approximately $293,925. The disclosure for this sale can be found here. In the last three months, insiders have sold 979,311 shares of company stock valued at $71,870,078. 1.08% of the stock is owned by company insiders.

Shares of Cognizant Technology Solutions Corp (NASDAQ CTSH) traded down $1.78 during trading hours on Friday, hitting $75.72. The stock had a trading volume of 4,939,282 shares, compared to its average volume of 3,350,000. The stock has a market capitalization of $43,620.00, a P/E ratio of 23.44, a P/E/G ratio of 1.56 and a beta of 1.11. 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 twelve month low of $51.66 and a twelve month high of $78.95.

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

CTSH has been the topic of a number of research reports. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Tuesday, October 10th. Robert W. Baird raised their price target on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. BidaskClub downgraded Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. SunTrust Banks reiterated a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $77.00 target price on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $81.98.

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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.

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

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