Tower Bridge Advisors Has $12.74 Million Holdings in Cognizant Technology Solutions Corp (CTSH)

Tower Bridge Advisors boosted its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,363 shares of the information technology service provider’s stock after buying an additional 1,401 shares during the period. Cognizant Technology Solutions makes up about 1.4% of Tower Bridge Advisors’ investment portfolio, making the stock its 24th largest holding. Tower Bridge Advisors’ holdings in Cognizant Technology Solutions were worth $12,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Cognizant Technology Solutions by 29.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,722,361 shares of the information technology service provider’s stock worth $114,364,000 after purchasing an additional 395,609 shares in the last quarter. Numeric Investors LLC increased its holdings in shares of Cognizant Technology Solutions by 15.2% in the 2nd quarter. Numeric Investors LLC now owns 62,100 shares of the information technology service provider’s stock worth $4,123,000 after purchasing an additional 8,200 shares in the last quarter. Zurich Insurance Group Ltd FI increased its holdings in shares of Cognizant Technology Solutions by 21.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 89,366 shares of the information technology service provider’s stock worth $5,934,000 after purchasing an additional 15,644 shares in the last quarter. AHL Partners LLP increased its holdings in shares of Cognizant Technology Solutions by 61.5% in the 2nd quarter. AHL Partners LLP now owns 134,561 shares of the information technology service provider’s stock worth $8,935,000 after purchasing an additional 51,222 shares in the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. increased its holdings in shares of Cognizant Technology Solutions by 70.3% in the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 993,141 shares of the information technology service provider’s stock worth $65,945,000 after purchasing an additional 409,891 shares in the last quarter. 86.87% of the stock is owned by institutional investors.

In other news, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total value of $34,723,280.00. Following the transaction, the chief executive officer now directly owns 621,643 shares in the company, valued at $44,783,161.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Karen Mcloughlin sold 9,482 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $72.24, for a total value of $684,979.68. Following the completion of the transaction, the chief financial officer now owns 52,200 shares in the company, valued at $3,770,928. The disclosure for this sale can be found here. Insiders sold 994,079 shares of company stock worth $73,129,749 over the last 90 days. Company insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded up $0.68 during midday trading on Wednesday, reaching $78.11. The company had a trading volume of 4,123,300 shares, compared to its average volume of 3,991,002. The stock has a market capitalization of $46,150.00, a P/E ratio of 31.56, a PEG ratio of 1.47 and a beta of 1.11. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a 12 month low of $57.00 and a 12 month high of $79.60.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, February 21st. Cognizant Technology Solutions’s payout ratio is presently 23.81%.

A number of analysts have commented on the company. Vetr raised Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 target price for the company in a report on Wednesday, November 29th. Loop Capital lifted their target price on Cognizant Technology Solutions to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Finally, BMO Capital Markets lifted their price objective on Cognizant Technology Solutions from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $84.32.

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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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