Cognizant Technology Solutions Corporation (CTSH) Shares Sold by Pictet North America Advisors SA

Pictet North America Advisors SA cut its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,893 shares of the information technology service provider’s stock after selling 12,399 shares during the period. Cognizant Technology Solutions Corporation comprises about 1.5% of Pictet North America Advisors SA’s investment portfolio, making the stock its 21st biggest position. Pictet North America Advisors SA’s holdings in Cognizant Technology Solutions Corporation were worth $9,713,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. lifted its position in shares of Cognizant Technology Solutions Corporation by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock valued at $241,000 after acquiring an additional 11 shares in the last quarter. First Capital Advisors Group LLC. lifted its position in shares of Cognizant Technology Solutions Corporation by 0.9% in the second quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock valued at $244,000 after acquiring an additional 32 shares in the last quarter. Comerica Securities Inc. lifted its position in shares of Cognizant Technology Solutions Corporation by 0.4% in the second quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after acquiring an additional 32 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of Cognizant Technology Solutions Corporation by 0.5% in the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock valued at $425,000 after acquiring an additional 35 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Cognizant Technology Solutions Corporation by 1.0% in the second quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock valued at $380,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Cognizant Technology Solutions Corporation (CTSH) traded up $1.29 during midday trading on Friday, hitting $75.38. The company had a trading volume of 3,370,700 shares, compared to its average volume of 3,983,516. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corporation has a 52-week low of $51.35 and a 52-week high of $76.51. The firm has a market cap of $44,190.00, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.13. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. sell-side analysts predict that Cognizant Technology Solutions Corporation will post 3.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 18.58%.

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $73.00, for a total transaction of $182,500.00. Following the sale, the chief operating officer now directly owns 24,459 shares of the company’s stock, valued at approximately $1,785,507. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen Shaheen sold 2,358 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $70.20, for a total transaction of $165,531.60. The disclosure for this sale can be found here. Insiders have sold a total of 244,918 shares of company stock worth $17,643,259 over the last ninety days. 1.08% of the stock is owned by insiders.

Several brokerages have recently issued reports on CTSH. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Friday, November 3rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $89.00 target price (up from $80.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, November 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $77.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, September 6th. Zacks Investment Research cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Citigroup Inc. lifted their target price on Cognizant Technology Solutions Corporation from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.19.

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Cognizant Technology Solutions Corporation 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.

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

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