Addenda Capital Inc. Sells 3,309 Shares of Cognizant Technology Solutions Corporation (CTSH)

Addenda Capital Inc. decreased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,296 shares of the information technology service provider’s stock after selling 3,309 shares during the period. Addenda Capital Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $7,381,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. KBC Group NV increased its stake in shares of Cognizant Technology Solutions Corporation by 9.9% in the second quarter. KBC Group NV now owns 91,181 shares of the information technology service provider’s stock worth $6,055,000 after buying an additional 8,178 shares during the period. Yacktman Asset Management LP bought a new stake in shares of Cognizant Technology Solutions Corporation during the second quarter worth about $89,259,000. Ballentine Partners LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 30.0% in the second quarter. Ballentine Partners LLC now owns 6,653 shares of the information technology service provider’s stock worth $465,000 after buying an additional 1,537 shares during the period. DE Burlo Group Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 1,141.5% in the second quarter. DE Burlo Group Inc. now owns 116,700 shares of the information technology service provider’s stock worth $7,748,000 after buying an additional 107,300 shares during the period. Finally, GW Henssler & Associates Ltd. increased its stake in shares of Cognizant Technology Solutions Corporation by 2.2% in the second quarter. GW Henssler & Associates Ltd. now owns 187,258 shares of the information technology service provider’s stock worth $12,434,000 after buying an additional 4,065 shares during the period. Institutional investors and hedge funds own 88.68% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 70.39 on Friday. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $72.07. The company has a market cap of $41.57 billion, a PE ratio of 22.58 and a beta of 1.17. The firm’s 50-day moving average price is $69.18 and its 200 day moving average price is $63.09.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be paid 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 0.85%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 19.17%.

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A number of brokerages have issued reports on CTSH. Zacks Investment Research downgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 target price (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Berenberg Bank raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $65.00 to $85.00 in a research note on Tuesday, August 8th. BMO Capital Markets reaffirmed a “buy” rating and set a $76.00 target price (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, August 4th. Finally, Credit Suisse Group set a $80.00 target price on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research note on Friday, August 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.02.

In other Cognizant Technology Solutions Corporation news, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $66.00, for a total value of $99,000.00. Following the completion of the transaction, the insider now owns 10,515 shares in the company, valued at $693,990. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John E. Klein sold 11,560 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $71.86, for a total transaction of $830,701.60. Following the completion of the transaction, the director now owns 482,880 shares of the company’s stock, valued at approximately $34,699,756.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,222 shares of company stock valued at $6,326,183. Insiders own 1.08% of the company’s stock.

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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