Matthews International Capital Management LLC Has $216.20 Million Position in Cognizant Technology Solutions Corp (CTSH)

Matthews International Capital Management LLC reduced its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 18.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,044,200 shares of the information technology service provider’s stock after selling 678,200 shares during the period. Cognizant Technology Solutions makes up 10.2% of Matthews International Capital Management LLC’s portfolio, making the stock its 4th biggest position. Matthews International Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $216,199,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $107,000. Shine Investment Advisory Services Inc. increased its position in shares of Cognizant Technology Solutions by 108.8% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after acquiring an additional 788 shares during the period. Bank of Nova Scotia Trust Co. purchased a new position in shares of Cognizant Technology Solutions during the third quarter worth approximately $121,000. Cerebellum GP LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $128,000. Finally, BB&T Investment Services Inc. increased its position in shares of Cognizant Technology Solutions by 86.8% during the third 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 during the period. 88.54% of the stock is currently owned by institutional investors.

CTSH has been the topic of a number of research reports. BidaskClub lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. SunTrust Banks reaffirmed a “buy” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, January 2nd. Morgan Stanley raised their target price on shares of Cognizant Technology Solutions from $77.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $89.00 target price (up from $80.00) on shares of Cognizant Technology Solutions in a research report on Thursday, November 2nd. 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’s stock. Cognizant Technology Solutions has an average rating of “Buy” and an average target price of $84.32.

In other Cognizant Technology Solutions news, CFO Karen Mcloughlin sold 9,482 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 52,200 shares in the company, valued at $3,770,928. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Francisco Dsouza sold 240,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $74.04, for a total transaction of $17,769,600.00. Following the completion of the sale, the chief executive officer now owns 541,667 shares of the company’s stock, valued at $40,105,024.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 629,296 shares of company stock valued at $47,467,608. 1.08% of the stock is owned by insiders.

Cognizant Technology Solutions Corp (CTSH) opened at $81.54 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 one year low of $57.00 and a one year high of $82.18. The stock has a market cap of $47,598.60, a P/E ratio of 22.80, a PEG ratio of 1.52 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the firm earned $0.87 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. analysts predict that Cognizant Technology Solutions Corp will post 4.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.98%. 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 dividend payout ratio (DPR) is 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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