Tandem Investment Advisors Inc. Purchases 26,111 Shares of Cognizant Technology Solutions Corp (CTSH)

Tandem Investment Advisors Inc. increased its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 164.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,030 shares of the information technology service provider’s stock after purchasing an additional 26,111 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $2,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CTSH. Commonwealth Bank of Australia grew its position in Cognizant Technology Solutions by 4.6% during the second quarter. Commonwealth Bank of Australia now owns 29,290 shares of the information technology service provider’s stock worth $1,943,000 after buying an additional 1,279 shares in the last quarter. Dai Ichi Life Insurance Company Ltd grew its position in Cognizant Technology Solutions by 106.0% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 55,199 shares of the information technology service provider’s stock worth $3,665,000 after buying an additional 28,400 shares in the last quarter. Oak Ridge Investments LLC grew its position in Cognizant Technology Solutions by 7.1% during the second quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock worth $11,264,000 after buying an additional 11,316 shares in the last quarter. Seven Eight Capital LP grew its position in Cognizant Technology Solutions by 463.6% during the second quarter. Seven Eight Capital LP now owns 37,808 shares of the information technology service provider’s stock worth $2,510,000 after buying an additional 31,100 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its position in Cognizant Technology Solutions by 1.0% during the second quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock worth $380,000 after buying an additional 57 shares in the last quarter. 85.98% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Corp (NASDAQ CTSH) traded up $0.07 during trading hours on Tuesday, hitting $73.37. 3,305,400 shares of the stock were exchanged, compared to its average volume of 3,409,680. Cognizant Technology Solutions Corp has a 52 week low of $51.52 and a 52 week high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $43,320.00, a PE ratio of 22.72, a P/E/G ratio of 1.40 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 9.1% compared to the same quarter last year. analysts anticipate that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.

In related news, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $75.00, for a total value of $300,000.00. Following the completion of the transaction, the insider now owns 3,919 shares in the company, valued at approximately $293,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sumithra Gomatam sold 3,163 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $76.00, for a total transaction of $240,388.00. Following the completion of the transaction, the insider now owns 6,346 shares of the company’s stock, valued at approximately $482,296. The disclosure for this sale can be found here. Insiders sold 567,286 shares of company stock valued at $40,909,622 in the last quarter. 1.08% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Oppenheimer reaffirmed a “buy” rating and set a $80.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Barclays reaffirmed a “buy” rating and set a $86.00 price objective on shares of Cognizant Technology Solutions in a report on Friday. Morgan Stanley lifted their price objective on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Finally, Sanford C. Bernstein lifted their price objective on Cognizant Technology Solutions from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $81.68.

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Cognizant Technology Solutions 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.

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).

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

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