Teachers Advisors LLC grew its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,111,447 shares of the information technology service provider’s stock after purchasing an additional 89,494 shares during the period. Teachers Advisors LLC owned about 0.19% of Cognizant Technology Solutions worth $78,935,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harding Loevner LP grew its stake in shares of Cognizant Technology Solutions by 2,085,162.4% in the 3rd quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock worth $142,254,000 after buying an additional 3,544,776 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Cognizant Technology Solutions by 296.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,422,593 shares of the information technology service provider’s stock valued at $314,093,000 after acquiring an additional 3,307,799 shares in the last quarter. Winslow Capital Management LLC bought a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $217,524,000. APG Asset Management N.V. lifted its position in Cognizant Technology Solutions by 241.2% in the 4th quarter. APG Asset Management N.V. now owns 3,580,820 shares of the information technology service provider’s stock valued at $211,784,000 after acquiring an additional 2,531,494 shares in the last quarter. Finally, Genesis Asset Managers LLP lifted its holdings in shares of Cognizant Technology Solutions by 92.3% during the 4th quarter. Genesis Asset Managers LLP now owns 3,738,507 shares of the information technology service provider’s stock valued at $265,509,000 after buying an additional 1,794,164 shares during the period. 88.74% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on the company. BidaskClub raised Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. Argus upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and increased their price target for the stock 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 began coverage on Cognizant Technology Solutions in a research report on Wednesday, March 28th. They set a “market perform” rating and a $57.50 price objective for the company. Finally, Bank of America raised their price objective on Cognizant Technology Solutions from $86.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $84.22.
In other news, insider Venkat Krishnaswamy sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $77.50, for a total value of $310,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James Patrick Lennox sold 959 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $83.64, for a total transaction of $80,210.76. Following the completion of the transaction, the executive vice president now owns 5,203 shares in the company, valued at $435,178.92. The disclosure for this sale can be found here. In the last three months, insiders sold 636,165 shares of company stock valued at $48,681,806. Corporate insiders own 1.08% of the company’s stock.
Shares of CTSH traded down $1.85 during mid-day trading on Friday, hitting $79.07. 3,552,935 shares of the company were exchanged, compared to its average volume of 3,427,589. Cognizant Technology Solutions Corp has a 1-year low of $57.50 and a 1-year high of $85.10. The company has a market cap of $47,585.09, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.07.
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 (EPS) for the quarter, beating the 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 company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. sell-side analysts expect that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current year.
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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.
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