Meag Munich Ergo Kapitalanlagegesellschaft MBH Has $1.56 Million Holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 8.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,739 shares of the information technology service provider’s stock after buying an additional 1,642 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Cognizant Technology Solutions were worth $1,555,000 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. raised its holdings 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 valued at $2,858,124,000 after purchasing an additional 278,109 shares during the period. Vanguard Group Inc raised its holdings 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 valued at $3,361,533,000 after purchasing an additional 241,595 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Cognizant Technology Solutions by 4.6% during the fourth 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 acquiring an additional 1,106,129 shares in the last quarter. FMR LLC increased its position in shares of Cognizant Technology Solutions by 39.0% during the fourth quarter. FMR LLC now owns 12,939,775 shares of the information technology service provider’s stock worth $821,416,000 after acquiring an additional 3,632,452 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Cognizant Technology Solutions by 14.9% during the fourth quarter. Nordea Investment Management AB now owns 10,187,078 shares of the information technology service provider’s stock worth $646,676,000 after acquiring 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.

NASDAQ CTSH traded up $0.50 on Wednesday, hitting $61.50. The stock had a trading volume of 9,016,695 shares, compared to its average volume of 4,679,096. Cognizant Technology Solutions Corp has a 52-week low of $56.73 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90. The stock has a market capitalization of $34.73 billion, a PE ratio of 15.30, a P/E/G ratio of 1.51 and a beta of 0.95.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd will be given 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 is Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 19.90%.

Several research firms have recently commented on CTSH. KeyCorp boosted their target price on shares of Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, February 7th. BMO Capital Markets raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 6th. Wells Fargo & Co downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $82.00 to $75.00 in a research report on Tuesday, April 16th. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Monday, April 8th. Finally, Daiwa Capital Markets began coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, February 13th. They issued a “buy” rating and a $90.00 price objective for the company. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $75.55.

In other Cognizant Technology Solutions news, President Rajeev Mehta sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $71.50, for a total value of $1,430,000.00. Following the sale, the president now owns 39,457 shares of the company’s stock, valued at approximately $2,821,175.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Allen Shaheen sold 396 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $73.80, for a total transaction of $29,224.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,820 shares of company stock worth $3,402,075. Corporate insiders own 0.56% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Meag Munich Ergo Kapitalanlagegesellschaft MBH Has $1.56 Million Holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH)” was posted by Sundance Herald and is owned by of Sundance Herald. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://sundanceherald.com/2019/05/22/meag-munich-ergo-kapitalanlagegesellschaft-mbh-buys-1642-shares-of-cognizant-technology-solutions-corp-ctsh.html.

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.

Read More: Trading based on a resistance level

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply