Gradient Investments LLC raised its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 31.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,713 shares of the information technology service provider’s stock after acquiring an additional 6,673 shares during the period. Gradient Investments LLC’s holdings in Cognizant Technology Solutions were worth $1,670,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in CTSH. Bogart Wealth LLC grew its stake in Cognizant Technology Solutions by 9.7% in the 3rd quarter. Bogart Wealth LLC now owns 4,011 shares of the information technology service provider’s stock valued at $242,000 after acquiring an additional 355 shares during the last quarter. Manning & Napier Group LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at about $216,000. Cerebellum GP LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at about $409,000. Lederer & Associates Investment Counsel CA grew its stake in Cognizant Technology Solutions by 1.4% in the 3rd quarter. Lederer & Associates Investment Counsel CA now owns 22,610 shares of the information technology service provider’s stock valued at $1,363,000 after acquiring an additional 320 shares during the last quarter. Finally, Chesley Taft & Associates LLC grew its stake in Cognizant Technology Solutions by 1.6% in the 3rd quarter. Chesley Taft & Associates LLC now owns 96,580 shares of the information technology service provider’s stock valued at $5,820,000 after acquiring an additional 1,567 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.
A number of brokerages recently commented on CTSH. Zacks Investment Research cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a research note on Thursday, September 5th. UBS Group downgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $62.00 to $60.00 in a report on Friday, August 2nd. Credit Suisse Group decreased their price objective on shares of Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. TheStreet raised shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird set a $76.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a report on Friday, September 6th. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.32.
Shares of NASDAQ CTSH opened at $61.18 on Friday. Cognizant Technology Solutions Corp has a fifty-two week low of $56.73 and a fifty-two week high of $74.85. The firm’s 50-day simple moving average is $61.52 and its 200 day simple moving average is $64.45. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The stock has a market cap of $32.53 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.35 and a beta of 1.07.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 earnings per share for the current fiscal year.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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