Forsta AP Fonden Grows Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Forsta AP Fonden lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,458 shares of the information technology service provider’s stock after buying an additional 17,000 shares during the period. Forsta AP Fonden’s holdings in Cognizant Technology Solutions were worth $12,954,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Banco Santander S.A. boosted its position in shares of Cognizant Technology Solutions by 37.9% during the first quarter. Banco Santander S.A. now owns 20,000 shares of the information technology service provider’s stock valued at $1,793,000 after buying an additional 5,498 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Cognizant Technology Solutions by 11.8% during the first quarter. Checchi Capital Advisers LLC now owns 5,770 shares of the information technology service provider’s stock valued at $517,000 after buying an additional 607 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Cognizant Technology Solutions by 8.3% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 297,136 shares of the information technology service provider’s stock valued at $26,644,000 after buying an additional 22,738 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Cognizant Technology Solutions during the first quarter valued at $18,350,000. Finally, Los Angeles Capital Management LLC boosted its position in shares of Cognizant Technology Solutions by 3.5% during the first quarter. Los Angeles Capital Management LLC now owns 1,221,629 shares of the information technology service provider’s stock valued at $109,543,000 after buying an additional 41,578 shares during the last quarter. 90.73% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.0 %

Shares of CTSH opened at $68.72 on Friday. The business’s 50 day moving average is $68.76 and its 200 day moving average is $79.03. The company has a market capitalization of $35.58 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. Cognizant Technology Solutions Co. has a 12-month low of $63.26 and a 12-month high of $93.47. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last issued its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.92 billion. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. Research analysts expect that Cognizant Technology Solutions Co. will post 4.54 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is presently 25.06%.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $82.00 to $77.00 in a report on Thursday, July 28th. Robert W. Baird lowered their target price on Cognizant Technology Solutions from $94.00 to $84.00 in a report on Friday, July 15th. Barclays lowered their target price on Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, July 19th. Citigroup lowered their target price on Cognizant Technology Solutions from $88.00 to $77.00 in a report on Thursday, July 28th. Finally, StockNews.com downgraded Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.79.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 5,687 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total transaction of $423,112.80. Following the completion of the transaction, the director now owns 57,534 shares in the company, valued at approximately $4,280,529.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Michael Patsalos-Fox sold 5,687 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the completion of the transaction, the director now owns 57,534 shares in the company, valued at approximately $4,280,529.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total value of $453,167.08. Following the completion of the transaction, the executive vice president now owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

About Cognizant Technology Solutions

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Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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