Royal London Asset Management Ltd. decreased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,625 shares of the information technology service provider’s stock after selling 9,918 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cognizant Technology Solutions were worth $16,114,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Cognizant Technology Solutions by 0.4% during the third quarter. BlackRock Inc. now owns 47,901,916 shares of the information technology service provider’s stock worth $3,554,802,000 after purchasing an additional 201,419 shares during the last quarter. Invesco Ltd. boosted its holdings in Cognizant Technology Solutions by 20.4% during the third quarter. Invesco Ltd. now owns 15,932,928 shares of the information technology service provider’s stock worth $1,182,382,000 after purchasing an additional 2,694,620 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Cognizant Technology Solutions by 16.9% during the third quarter. Pzena Investment Management LLC now owns 14,110,915 shares of the information technology service provider’s stock worth $1,047,171,000 after purchasing an additional 2,044,744 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cognizant Technology Solutions by 32.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,291,605 shares of the information technology service provider’s stock valued at $837,952,000 after buying an additional 2,789,442 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Cognizant Technology Solutions by 181.5% in the 3rd quarter. Nordea Investment Management AB now owns 11,182,330 shares of the information technology service provider’s stock valued at $847,620,000 after buying an additional 7,209,667 shares during the last quarter. Institutional investors and hedge funds own 90.15% of the company’s stock.
Several research firms have recently commented on CTSH. Cowen increased their price objective on Cognizant Technology Solutions from $93.00 to $98.00 in a report on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Cognizant Technology Solutions from $81.00 to $92.00 and gave the company a “hold” rating in a research report on Monday, January 24th. UBS Group raised Cognizant Technology Solutions from a “sell” rating to a “neutral” rating and raised their price objective for the company from $58.50 to $89.00 in a research report on Thursday, January 20th. The Goldman Sachs Group assumed coverage on Cognizant Technology Solutions in a research report on Sunday, January 9th. They issued a “buy” rating and a $104.00 price objective for the company. Finally, Barclays raised their price objective on Cognizant Technology Solutions from $78.00 to $85.00 and gave the company an “underweight” rating in a research report on Monday, February 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $92.13.
In other news, insider Rajesh Nambiar sold 5,000 shares of the stock in a transaction on Friday, February 11th. The shares were sold at an average price of $90.50, for a total transaction of $452,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maureen Breakiron-Evans sold 6,371 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $87.76, for a total transaction of $559,118.96. The disclosure for this sale can be found here. Insiders sold 16,149 shares of company stock valued at $1,434,568 over the last 90 days. 0.31% of the stock is currently owned by company insiders.
Shares of NASDAQ:CTSH opened at $88.04 on Friday. The firm has a 50 day moving average of $87.00 and a 200-day moving average of $82.00. The stock has a market capitalization of $46.18 billion, a PE ratio of 21.74, a PEG ratio of 1.60 and a beta of 1.10. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12 month low of $66.19 and a 12 month high of $92.44.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last issued its earnings results on Wednesday, February 2nd. The information technology service provider reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.06. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 14.2% on a year-over-year basis. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 1st. Investors of record on Friday, February 18th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.23%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, February 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.67%.
About Cognizant Technology Solutions (Get Rating)
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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