Cognizant Technology Solutions Corp (CTSH) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.1% in the third quarter, HoldingsChannel.com reports. The firm owned 359,053 shares of the information technology service provider’s stock after selling 11,334 shares during the quarter. US Bancorp DE’s holdings in Cognizant Technology Solutions were worth $27,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Kaizen Advisory LLC boosted its position in shares of Cognizant Technology Solutions by 149.4% in the second quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock valued at $113,000 after acquiring an additional 856 shares during the period. Fort L.P. bought a new stake in shares of Cognizant Technology Solutions in the second quarter valued at about $123,000. San Francisco Sentry Investment Group CA boosted its position in shares of Cognizant Technology Solutions by 170.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock valued at $151,000 after acquiring an additional 1,202 shares during the period. Parallel Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 65.5% in the second quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock valued at $175,000 after acquiring an additional 881 shares during the period. Finally, Cerebellum GP LLC bought a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $180,000. 88.08% of the stock is owned by hedge funds and other institutional investors.

CTSH opened at $69.50 on Monday. Cognizant Technology Solutions Corp has a twelve month low of $65.14 and a twelve month high of $85.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market cap of $40.33 billion, a P/E ratio of 19.69, a PEG ratio of 1.28 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.06. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. Cognizant Technology Solutions’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, analysts anticipate that Cognizant Technology Solutions Corp will post 4.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, November 19th. Cognizant Technology Solutions’s payout ratio is 22.66%.

A number of equities research analysts have recently issued reports on the stock. Bank of America reduced their target price on shares of Cognizant Technology Solutions from $81.00 to $68.00 and set an “underperform” rating for the company in a research report on Friday. Morgan Stanley reduced their target price on shares of Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Nomura raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Wednesday, October 31st. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Finally, KeyCorp reduced their target price on shares of Cognizant Technology Solutions from $89.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $84.42.

In other Cognizant Technology Solutions news, EVP Allen Shaheen sold 352 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total transaction of $26,361.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Matthew W. Friedrich sold 2,881 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $75.17, for a total value of $216,564.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,288 shares of company stock valued at $3,694,551. Insiders own 0.60% of the company’s stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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