BT Investment Management Ltd Invests $83.13 Million in Cognizant Technology Solutions Corporation (CTSH)

BT Investment Management Ltd acquired a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,252,012 shares of the information technology service provider’s stock, valued at approximately $83,134,000. BT Investment Management Ltd owned 0.21% of Cognizant Technology Solutions Corporation as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of CTSH. BlackRock Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 3,470.1% during the 1st quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after purchasing an additional 39,606,526 shares during the period. Comgest Global Investors S.A.S. purchased a new position in shares of Cognizant Technology Solutions Corporation during the 1st quarter worth approximately $224,748,000. Thrivent Financial For Lutherans boosted its position in Cognizant Technology Solutions Corporation by 11,666.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock valued at $146,928,000 after buying an additional 2,447,570 shares during the period. Alliancebernstein L.P. boosted its position in Cognizant Technology Solutions Corporation by 112.5% in the 1st quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock valued at $267,111,000 after buying an additional 2,375,626 shares during the period. Finally, SRS Investment Management LLC purchased a new position in Cognizant Technology Solutions Corporation in the 1st quarter valued at approximately $134,797,000. 87.64% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have commented on the stock. Bank of America Corporation reissued a “buy” rating and issued a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday. KeyCorp reissued a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Robert W. Baird reissued a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Sunday, September 10th. Zacks Investment Research cut shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $77.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $72.30.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.11% during midday trading on Friday, reaching $71.82. 3,927,830 shares of the company traded hands. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $73.00. The firm has a market capitalization of $42.42 billion, a P/E ratio of 23.04 and a beta of 1.14. The company has a 50 day moving average of $70.58 and a 200 day moving average of $65.16.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm posted $0.87 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 19.17%.

In other Cognizant Technology Solutions Corporation news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $73.00, for a total transaction of $1,825,000.00. Following the transaction, the insider now directly owns 286,923 shares in the company, valued at approximately $20,945,379. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Rajeev Mehta sold 32,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $71.02, for a total transaction of $2,272,640.00. Following the transaction, the president now owns 187,965 shares in the company, valued at $13,349,274.30. The disclosure for this sale can be found here. Insiders have sold a total of 282,267 shares of company stock worth $20,127,629 over the last quarter. 1.08% of the stock is currently owned by insiders.

Cognizant Technology Solutions Corporation 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.

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

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