Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $127.21 Million Position in Cognizant Technology Solutions Corporation (CTSH)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,753,673 shares of the information technology service provider’s stock after purchasing an additional 5,624 shares during the quarter. Cognizant Technology Solutions Corporation makes up 2.5% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 11th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.30% of Cognizant Technology Solutions Corporation worth $127,212,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake 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 valued at $2,425,316,000 after purchasing an additional 39,606,526 shares during the last quarter. Vanguard Group Inc. increased its stake in Cognizant Technology Solutions Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock valued at $2,413,246,000 after purchasing an additional 1,379,271 shares during the last quarter. FMR LLC increased its stake in Cognizant Technology Solutions Corporation by 81.6% in the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after purchasing an additional 11,262,360 shares during the last quarter. State Street Corp increased its stake in Cognizant Technology Solutions Corporation by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock valued at $1,444,391,000 after purchasing an additional 435,142 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions Corporation by 4.4% in the second quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock valued at $465,522,000 after purchasing an additional 296,899 shares during the last quarter. Hedge funds and other institutional investors own 87.35% of the company’s stock.

In other Cognizant Technology Solutions Corporation news, President Rajeev Mehta sold 34,437 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the sale, the president now directly owns 170,063 shares of the company’s stock, valued at approximately $12,336,370.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Patrick Lennox sold 7,315 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $69.69, for a total transaction of $509,782.35. The disclosure for this sale can be found here. Insiders sold a total of 281,095 shares of company stock worth $20,095,913 over the last ninety days. 1.08% of the stock is currently owned by insiders.

Cognizant Technology Solutions Corporation (CTSH) traded down 6.17% during mid-day trading on Wednesday, hitting $71.00. The stock had a trading volume of 2,043,633 shares. The company has a market cap of $41.93 billion, a P/E ratio of 22.78 and a beta of 1.12. Cognizant Technology Solutions Corporation has a 1-year low of $51.22 and a 1-year high of $76.51. The company has a 50-day moving average price of $73.32 and a 200 day moving average price of $68.57.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.95 by $0.03. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. Equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.79%. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

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CTSH has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Tuesday, August 8th. Berenberg Bank raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price target for the company from $65.00 to $85.00 in a research report on Tuesday, August 8th. BMO Capital Markets reissued a “buy” rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Finally, Credit Suisse Group set a $80.00 target price on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $77.67.

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.

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

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