Cognizant Technology Solutions Corp (NASDAQ:CTSH) Shares Bought by KCS Wealth Advisory

KCS Wealth Advisory grew its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 5.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,344 shares of the information technology service provider’s stock after buying an additional 587 shares during the quarter. KCS Wealth Advisory’s holdings in Cognizant Technology Solutions were worth $822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Cognizant Technology Solutions by 0.6% during the fourth quarter. BlackRock Inc. now owns 45,024,003 shares of the information technology service provider’s stock worth $2,858,124,000 after acquiring an additional 278,109 shares in the last quarter. Vanguard Group Inc increased its position in shares of Cognizant Technology Solutions by 0.6% during the third quarter. Vanguard Group Inc now owns 43,571,388 shares of the information technology service provider’s stock worth $3,361,533,000 after acquiring an additional 241,595 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Cognizant Technology Solutions by 4.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 25,183,792 shares of the information technology service provider’s stock worth $1,598,668,000 after purchasing an additional 1,106,129 shares in the last quarter. FMR LLC grew its position in Cognizant Technology Solutions by 39.0% in the 4th quarter. FMR LLC now owns 12,939,775 shares of the information technology service provider’s stock worth $821,416,000 after purchasing an additional 3,632,452 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Cognizant Technology Solutions by 14.9% in the 4th quarter. Nordea Investment Management AB now owns 10,187,078 shares of the information technology service provider’s stock worth $646,676,000 after purchasing an additional 1,324,213 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

In other Cognizant Technology Solutions news, VP Malcolm Frank sold 437 shares of Cognizant Technology Solutions stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $71.81, for a total value of $31,380.97. Following the completion of the transaction, the vice president now directly owns 27,009 shares of the company’s stock, valued at $1,939,516.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Srinivasan Veeraraghavachary sold 2,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $74.00, for a total transaction of $148,000.00. Following the completion of the transaction, the chief operating officer now directly owns 38,992 shares of the company’s stock, valued at $2,885,408. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,820 shares of company stock worth $3,402,075. 0.56% of the stock is owned by insiders.

A number of brokerages have issued reports on CTSH. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Wedbush downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $70.00 in a research report on Friday, May 3rd. CIBC reaffirmed a “market perform” rating on shares of Cognizant Technology Solutions in a research report on Friday, May 3rd. ValuEngine downgraded shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, Argus downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $75.55.

Shares of Cognizant Technology Solutions stock traded up $0.50 on Wednesday, hitting $61.50. 9,016,695 shares of the company traded hands, compared to its average volume of 4,679,096. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.90 and a current ratio of 2.90. The stock has a market cap of $34.73 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.51 and a beta of 0.95. Cognizant Technology Solutions Corp has a 12-month low of $56.73 and a 12-month high of $83.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the business posted $0.94 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

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About Cognizant Technology Solutions

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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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