American International Group Inc. grew its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,679 shares of the information technology service provider’s stock after purchasing an additional 5,102 shares during the period. American International Group Inc.’s holdings in Cognizant Technology Solutions were worth $17,590,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its stake in Cognizant Technology Solutions by 3.1% during the fourth quarter. BlackRock Inc. now owns 36,121,482 shares of the information technology service provider’s stock worth $2,565,349,000 after purchasing an additional 1,088,469 shares during the last quarter. Edgewood Management LLC lifted its stake in Cognizant Technology Solutions by 9.3% during the third quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock worth $1,227,063,000 after purchasing an additional 1,443,368 shares during the last quarter. Nordea Investment Management AB lifted its stake in Cognizant Technology Solutions by 3.2% during the third quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock worth $730,914,000 after purchasing an additional 313,364 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in Cognizant Technology Solutions by 24.5% during the third quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after purchasing an additional 1,461,800 shares during the last quarter. Finally, Swedbank lifted its stake in Cognizant Technology Solutions by 1.8% during the third quarter. Swedbank now owns 6,621,266 shares of the information technology service provider’s stock worth $480,307,000 after purchasing an additional 116,263 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Karen Mcloughlin sold 9,482 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $72.24, for a total transaction of $684,979.68. Following the transaction, the chief financial officer now owns 52,200 shares in the company, valued at approximately $3,770,928. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $77.50, for a total value of $310,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 629,296 shares of company stock worth $47,467,608. 1.08% of the stock is owned by company insiders.
Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $81.54 on Wednesday. Cognizant Technology Solutions Corp has a twelve month low of $57.00 and a twelve month high of $82.18. The stock has a market capitalization of $48,080.00, a PE ratio of 32.36, a P/E/G ratio of 1.52 and a beta of 1.11. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the business earned $0.87 EPS. Cognizant Technology Solutions’s revenue was up 10.6% compared to the same quarter last year. equities analysts forecast that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, February 21st. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s payout ratio is currently 23.81%.
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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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