Sather Financial Group Inc grew its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 352,797 shares of the information technology service provider’s stock after purchasing an additional 5,635 shares during the quarter. Cognizant Technology Solutions makes up approximately 7.0% of Sather Financial Group Inc’s portfolio, making the stock its 2nd largest holding. Sather Financial Group Inc owned 0.06% of Cognizant Technology Solutions worth $25,592,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its position in shares of Cognizant Technology Solutions 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 purchasing an additional 800 shares during the period. WFG Advisors LP raised its position in shares of Cognizant Technology Solutions 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 purchasing an additional 621 shares during the period. Krilogy Financial LLC acquired a new stake in shares of Cognizant Technology Solutions in the second quarter worth $137,000. BB&T Investment Services Inc. grew its stake in shares of Cognizant Technology Solutions by 86.8% in the third quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after acquiring an additional 1,011 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Cognizant Technology Solutions in the third quarter worth $167,000. 87.06% of the stock is currently owned by institutional investors.
In other news, President Rajeev Mehta sold 32,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $72.02, for a total value of $2,304,640.00. Following the sale, the president now owns 170,063 shares in the company, valued at approximately $12,247,937.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $75.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider now owns 3,919 shares in the company, valued at approximately $293,925. The disclosure for this sale can be found here. Insiders have sold 652,042 shares of company stock worth $47,088,347 in the last quarter. Corporate insiders own 1.08% of the company’s stock.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. equities analysts forecast that Cognizant Technology Solutions Corp will post 3.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. Cognizant Technology Solutions’s dividend payout ratio is currently 18.52%.
Several brokerages have recently issued reports on CTSH. BMO Capital Markets restated a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday. BidaskClub downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday. Vetr upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price objective on the stock in a research note on Wednesday, November 29th. Pivotal Research began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, November 8th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $81.91.
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About Cognizant Technology Solutions
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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