CNA Financial Corp Has $2.65 Million Holdings in Cognizant Technology Solutions Corp (CTSH)

CNA Financial Corp decreased its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,247 shares of the information technology service provider’s stock after selling 6,763 shares during the quarter. CNA Financial Corp’s holdings in Cognizant Technology Solutions were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of CTSH. Harding Loevner LP raised its holdings in Cognizant Technology Solutions by 2,085,162.4% during the 3rd quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock valued at $142,254,000 after acquiring an additional 3,544,776 shares during the period. APG Asset Management N.V. increased its holdings in shares of Cognizant Technology Solutions by 241.2% in the fourth quarter. APG Asset Management N.V. now owns 3,580,820 shares of the information technology service provider’s stock worth $211,784,000 after purchasing an additional 2,531,494 shares during the period. Genesis Asset Managers LLP increased its holdings in shares of Cognizant Technology Solutions by 92.3% in the fourth quarter. Genesis Asset Managers LLP now owns 3,738,507 shares of the information technology service provider’s stock worth $265,509,000 after purchasing an additional 1,794,164 shares during the period. Comgest Global Investors S.A.S. increased its holdings in shares of Cognizant Technology Solutions by 24.5% in the third 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 purchasing an additional 1,461,800 shares during the period. Finally, Edgewood Management LLC increased its holdings in shares of Cognizant Technology Solutions by 9.3% in the third quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock worth $1,227,063,000 after purchasing an additional 1,443,368 shares during the period. 86.87% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Debashis Chatterjee sold 1,726 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $79.00, for a total transaction of $136,354.00. Following the completion of the sale, the insider now directly owns 39,253 shares in the company, valued at $3,100,987. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Francisco Dsouza sold 482,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the sale, the chief executive officer now owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 994,079 shares of company stock valued at $73,129,749. 1.08% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on CTSH. Nomura upped their price target on shares of Cognizant Technology Solutions from $71.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Bank of America upped their price target on shares of Cognizant Technology Solutions from $86.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. BidaskClub raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Tuesday. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $90.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $84.32.

Shares of Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $78.11 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.21. Cognizant Technology Solutions Corp has a 1 year low of $57.00 and a 1 year high of $79.28. The stock has a market cap of $45,656.21, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.15. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. equities research analysts anticipate that Cognizant Technology Solutions Corp will post 4.17 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Wednesday, February 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 23.72%.

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

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