Glenmede Trust Co. NA Decreases Holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Glenmede Trust Co. NA decreased its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,435,990 shares of the information technology service provider’s stock after selling 1,602 shares during the period. Cognizant Technology Solutions accounts for approximately 0.7% of Glenmede Trust Co. NA’s portfolio, making the stock its 17th biggest position. Glenmede Trust Co. NA owned about 0.41% of Cognizant Technology Solutions worth $173,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTSH. Verition Fund Management LLC lifted its position in shares of Cognizant Technology Solutions by 793.7% in the fourth quarter. Verition Fund Management LLC now owns 38,348 shares of the information technology service provider’s stock worth $2,723,000 after buying an additional 34,057 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in shares of Cognizant Technology Solutions by 11.3% during the 4th quarter. Clark Capital Management Group Inc. now owns 196,034 shares of the information technology service provider’s stock worth $13,922,000 after purchasing an additional 19,854 shares during the last quarter. Millennium Management LLC lifted its position in shares of Cognizant Technology Solutions by 83.4% during the 4th quarter. Millennium Management LLC now owns 1,512,077 shares of the information technology service provider’s stock worth $107,388,000 after purchasing an additional 687,626 shares during the last quarter. Sciencast Management LP lifted its position in shares of Cognizant Technology Solutions by 316.7% during the 4th quarter. Sciencast Management LP now owns 23,667 shares of the information technology service provider’s stock worth $1,851,000 after purchasing an additional 17,987 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in shares of Cognizant Technology Solutions by 53.1% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 254,717 shares of the information technology service provider’s stock worth $18,089,000 after purchasing an additional 88,346 shares during the last quarter. 88.74% of the stock is owned by hedge funds and other institutional investors.

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Shares of NASDAQ CTSH traded down $1.85 during mid-day trading on Friday, hitting $79.07. The company had a trading volume of 3,530,576 shares, compared to its average volume of 3,427,589. The stock has a market capitalization of $47,585.09, a price-to-earnings ratio of 22.40, a PEG ratio of 1.52 and a beta of 1.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.21 and a quick ratio of 3.21. Cognizant Technology Solutions Corp has a one year low of $57.50 and a one year high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share 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 company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the company earned $0.87 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 10.6% compared to the same quarter last year. sell-side analysts expect that Cognizant Technology Solutions Corp will post 4.21 EPS for the current year.

Several equities analysts recently issued reports on the company. BidaskClub upgraded Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Argus upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and upped their price objective for the company from $81.80 to $100.00 in a research note on Thursday, February 22nd. ValuEngine upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Sanford C. Bernstein initiated coverage on Cognizant Technology Solutions in a research note on Wednesday, March 28th. They issued a “market perform” rating and a $57.50 price objective on the stock. Finally, Bank of America boosted their target price on Cognizant Technology Solutions from $86.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $84.22.

In other Cognizant Technology Solutions news, CFO Karen Mcloughlin sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $75.37, for a total transaction of $942,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Francisco Dsouza sold 240,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $74.04, for a total transaction of $17,769,600.00. Following 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. Insiders sold a total of 636,165 shares of company stock valued at $48,681,806 over the last quarter. 1.08% of the stock is currently owned by company 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.

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

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