Quadrature Capital Ltd Invests $4.79 Million in Cognizant Technology Solutions Corp (CTSH) Stock

Quadrature Capital Ltd acquired a new position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 67,435 shares of the information technology service provider’s stock, valued at approximately $4,789,000.

Other institutional investors have also modified their holdings of the company. Shine Investment Advisory Services Inc. raised its position in shares of Cognizant Technology Solutions by 108.8% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after buying an additional 788 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $107,000. Bank of Nova Scotia Trust Co. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $121,000. Cerebellum GP LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $128,000. Finally, BB&T Investment Services Inc. raised its position in shares of Cognizant Technology Solutions by 86.8% in the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock valued at $141,000 after buying an additional 1,011 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

In other Cognizant Technology Solutions news, insider Debashis Chatterjee sold 1,650 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $83.00, for a total transaction of $136,950.00. Following the sale, the insider now directly owns 37,603 shares of the company’s stock, valued at approximately $3,121,049. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Malcolm Frank sold 9,462 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $70.61, for a total transaction of $668,111.82. Following the sale, the vice president now directly owns 15,533 shares in the company, valued at $1,096,785.13. The disclosure for this sale can be found here. Insiders have sold a total of 654,264 shares of company stock worth $49,495,175 over the last three months. Insiders own 1.08% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $82.53 on Friday. The stock has a market cap of $47,986.68, a P/E ratio of 32.62, a P/E/G ratio of 1.54 and a beta of 1.11. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a 1-year low of $57.00 and a 1-year high of $83.56.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced 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 company had revenue of $3.83 billion for 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 firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. research analysts anticipate that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 21st. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 0.97%. Cognizant Technology Solutions’s payout ratio is 31.62%.

CTSH has been the subject of several analyst reports. SunTrust Banks restated a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Oppenheimer restated a “buy” rating and issued a $80.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Cantor Fitzgerald restated a “buy” rating and issued a $78.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Pivotal Research initiated coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, November 8th. They issued a “buy” rating and a $93.00 target price for the company. Finally, BMO Capital Markets restated a “buy” rating and issued a $78.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, December 5th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.43.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/24/quadrature-capital-ltd-invests-4-79-million-in-cognizant-technology-solutions-corp-ctsh-stock.html.

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.

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply