Comgest Global Investors S.A.S. grew its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,774,817 shares of the information technology service provider’s stock after buying an additional 1,358,200 shares during the quarter. Cognizant Technology Solutions accounts for 13.5% of Comgest Global Investors S.A.S.’s holdings, making the stock its 3rd largest holding. Comgest Global Investors S.A.S. owned approximately 1.49% of Cognizant Technology Solutions worth $623,188,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new stake in Cognizant Technology Solutions during the 2nd quarter worth about $2,390,000. Intl Fcstone Inc. purchased a new stake in Cognizant Technology Solutions during the 2nd quarter worth about $250,000. Shell Asset Management Co. lifted its holdings in Cognizant Technology Solutions by 156.9% during the 3rd quarter. Shell Asset Management Co. now owns 93,507 shares of the information technology service provider’s stock worth $4,186,000 after buying an additional 57,106 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Cognizant Technology Solutions during the 3rd quarter worth about $532,000. Finally, Mutual of America Capital Management LLC lifted its holdings in Cognizant Technology Solutions by 1.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 72,834 shares of the information technology service provider’s stock worth $5,283,000 after buying an additional 871 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Tuesday, February 13th. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Barclays reissued an “overweight” rating and issued a $88.00 target price (up from $86.00) on shares of Cognizant Technology Solutions in a report on Thursday, February 8th. Oppenheimer reissued a “buy” rating and issued a $80.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Finally, Pivotal Research reissued a “buy” rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating, twenty-three 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 an average price target of $84.32.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $80.95 on Tuesday. Cognizant Technology Solutions Corp has a 52 week low of $57.00 and a 52 week high of $81.87. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $47,598.60, a P/E ratio of 22.80, a P/E/G ratio of 1.52 and a beta of 1.11.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the company earned $0.87 EPS. Cognizant Technology Solutions’s revenue was up 10.6% on a year-over-year basis. equities analysts forecast that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be paid a $0.20 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s dividend payout ratio is presently 23.72%.
In other news, insider Venkat Krishnaswamy sold 4,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $77.50, for a total transaction of $310,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 5,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $76.76, for a total value of $383,800.00. Following the sale, the chief operating officer now owns 24,072 shares of the company’s stock, valued at $1,847,766.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 629,296 shares of company stock worth $47,467,608. 1.08% of the stock is owned by corporate insiders.
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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.
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