8,290 Shares in Cognizant Technology Solutions Corp (CTSH) Acquired by KCS Wealth Advisory

KCS Wealth Advisory acquired a new position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 8,290 shares of the information technology service provider’s stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Linscomb & Williams Inc. purchased a new position in Cognizant Technology Solutions in the third quarter worth about $278,000. Robeco Institutional Asset Management B.V. boosted its position in Cognizant Technology Solutions by 45.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock worth $10,401,000 after purchasing an additional 44,982 shares during the last quarter. Rothschild Asset Management Inc. purchased a new position in Cognizant Technology Solutions in the third quarter worth about $12,538,000. Palladium Partners LLC boosted its position in Cognizant Technology Solutions by 2.5% in the third quarter. Palladium Partners LLC now owns 98,625 shares of the information technology service provider’s stock worth $7,154,000 after purchasing an additional 2,425 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Cognizant Technology Solutions by 3.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,992,206 shares of the information technology service provider’s stock worth $144,515,000 after purchasing an additional 66,046 shares during the last quarter. Institutional investors own 85.98% of the company’s stock.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $74.56 on Friday. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a twelve month low of $51.52 and a twelve month high of $76.51. The company has a market capitalization of $43,960.00, a P/E ratio of 23.08, a P/E/G ratio of 1.42 and a beta of 1.08.

Cognizant Technology Solutions (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 the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s 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 year.

In related news, CEO Francisco Dsouza sold 240,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $74.04, for a total value of $17,769,600.00. Following the transaction, the chief executive officer now directly owns 541,667 shares of the company’s stock, valued at approximately $40,105,024.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 value of $240,388.00. Following the completion of the transaction, the insider now directly owns 6,346 shares in the company, valued at $482,296. The disclosure for this sale can be found here. Over the last three months, insiders sold 807,286 shares of company stock worth $58,679,209. 1.08% of the stock is owned by insiders.

Several research analysts have issued reports on the company. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Wednesday. Vetr raised Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 target price on the stock in a research report on Tuesday, September 19th. Barclays lifted their price objective on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Wedbush reaffirmed an “outperform” rating on shares of Cognizant Technology Solutions in a research report on Monday, September 18th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $78.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $81.75.

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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.

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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