Cognizant Technology Solutions Corporation (CTSH) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 31.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,658 shares of the information technology service provider’s stock after selling 247,552 shares during the period. Cognizant Technology Solutions Corporation accounts for 1.4% of Forsta AP Fonden’s holdings, making the stock its 18th largest holding. Forsta AP Fonden owned approximately 0.09% of Cognizant Technology Solutions Corporation worth $39,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of CTSH. Acrospire Investment Management LLC boosted its position in Cognizant Technology Solutions Corporation by 92.6% in the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after buying an additional 800 shares in the last quarter. WFG Advisors LP boosted its position in Cognizant Technology Solutions Corporation by 46.4% in the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 621 shares in the last quarter. Krilogy Financial LLC acquired a new stake in Cognizant Technology Solutions Corporation in the second quarter valued at approximately $137,000. Manchester Capital Management LLC boosted its position in Cognizant Technology Solutions Corporation by 15.7% in the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after buying an additional 370 shares in the last quarter. Finally, First National Trust Co. acquired a new stake in Cognizant Technology Solutions Corporation in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 87.35% of the company’s stock.

A number of brokerages have weighed in on CTSH. KeyCorp restated a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Bank of America Corporation restated a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. BMO Capital Markets raised their target price on shares of Cognizant Technology Solutions Corporation from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC upgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and raised their target price for the company from $78.00 to $90.00 in a research report on Wednesday. Finally, Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $80.71.

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Cognizant Technology Solutions Corporation (CTSH) traded down $0.09 during trading hours on Friday, reaching $74.27. 3,736,365 shares of the company’s stock were exchanged, compared to its average volume of 3,109,979. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.35. The firm has a market capitalization of $43,865.50, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.70 and a beta of 1.10. Cognizant Technology Solutions Corporation has a 1-year low of $51.35 and a 1-year high of $76.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.86 earnings per share. research analysts forecast that Cognizant Technology Solutions Corporation will post 3.31 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 18.52%.

In related news, insider Venkat Krishnaswamy sold 8,151 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $70.93, for a total transaction of $578,150.43. Following the transaction, the insider now directly owns 9,429 shares in the company, valued at $668,798.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $72.00, for a total transaction of $180,000.00. Following the transaction, the chief operating officer now owns 24,665 shares in the company, valued at $1,775,880. The disclosure for this sale can be found here. Insiders have sold 281,758 shares of company stock valued at $20,158,801 over the last quarter. Corporate insiders own 1.08% of the company’s stock.

About Cognizant Technology Solutions Corporation

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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