Victory Capital Management Inc. Has $46.76 Million Stake in Cognizant Technology Solutions Corp (CTSH)

Victory Capital Management Inc. trimmed its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 6.5% during the fourth quarter, HoldingsChannel reports. The firm owned 658,458 shares of the information technology service provider’s stock after selling 45,681 shares during the period. Victory Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $46,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CTSH. Shine Investment Advisory Services Inc. raised its holdings in shares of Cognizant Technology Solutions by 108.8% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after purchasing an additional 788 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at $121,000. Cerebellum GP LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at $128,000. WFG Advisors LP raised its holdings in shares of Cognizant Technology Solutions by 46.4% in the 2nd 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 in the last quarter. Finally, Krilogy Financial LLC acquired a new stake in shares of Cognizant Technology Solutions in the 2nd quarter valued at $137,000. Institutional investors and hedge funds own 86.95% of the company’s stock.

CTSH has been the topic of a number of analyst reports. Jefferies Group restated a “buy” rating and issued a $81.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Cowen restated a “buy” rating and issued a $80.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. KeyCorp restated a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Finally, Barclays raised their price objective on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Cognizant Technology Solutions currently has a consensus rating of “Buy” and an average target price of $82.25.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $76.52 on Thursday. Cognizant Technology Solutions Corp has a 52-week low of $54.76 and a 52-week high of $79.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. The stock has a market cap of $43,574.77, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the firm posted $0.87 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 10.6% on a year-over-year basis. equities analysts anticipate that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be given a dividend of $0.20 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.05%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 18.52%.

In other news, CEO Francisco Dsouza sold 482,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the sale, the chief executive officer now owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Matthew W. Friedrich sold 2,711 shares of Cognizant Technology Solutions stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $74.30, for a total transaction of $201,427.30. The disclosure for this sale can be found here. Insiders have sold a total of 961,064 shares of company stock worth $70,504,403 over the last three months. 1.08% of the stock is currently owned by insiders.

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Cognizant Technology Solutions 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 (NASDAQ:CTSH)

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