Columbia Partners L L C Investment Management increased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 25.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,490 shares of the information technology service provider’s stock after buying an additional 13,496 shares during the period. Columbia Partners L L C Investment Management’s holdings in Cognizant Technology Solutions Corporation were worth $3,957,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares in the last quarter. Comgest Global Investors S.A.S. acquired a new position in Cognizant Technology Solutions Corporation during the first quarter worth about $224,748,000. Thrivent Financial For Lutherans increased its position in Cognizant Technology Solutions Corporation by 11,666.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock worth $146,928,000 after buying an additional 2,447,570 shares in the last quarter. Alliancebernstein L.P. increased its position in Cognizant Technology Solutions Corporation by 112.5% in the first quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock worth $267,111,000 after buying an additional 2,375,626 shares in the last quarter. Finally, SRS Investment Management LLC purchased a new position in Cognizant Technology Solutions Corporation during the first quarter worth $134,797,000. Institutional investors and hedge funds own 89.10% of the company’s stock.
Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up 1.76% during trading on Friday, hitting $71.18. 4,555,435 shares of the stock traded hands. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $71.57. The firm has a market cap of $41.92 billion, a PE ratio of 25.89 and a beta of 1.17. The company’s 50 day moving average is $67.94 and its 200 day moving average is $62.02.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.68 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 19.17%.
A number of research analysts have weighed in on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of Cognizant Technology Solutions Corporation in a report on Friday. Credit Suisse Group set a $80.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a report on Friday. They noted that the move was a valuation call. Loop Capital raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Friday. Cowen and Company reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Finally, Vetr raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 target price for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $66.50.
In other Cognizant Technology Solutions Corporation news, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $69.50, for a total transaction of $347,430.50. Following the transaction, the insider now directly owns 10,515 shares of the company’s stock, valued at $730,792.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allen Shaheen sold 4,186 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $67.56, for a total transaction of $282,806.16. Following the transaction, the executive vice president now directly owns 442 shares in the company, valued at $29,861.52. The disclosure for this sale can be found here. Insiders sold 63,783 shares of company stock worth $4,222,615 over the last three months. Corporate insiders own 1.08% of the company’s stock.
About Cognizant Technology Solutions Corporation
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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