Perpetual Ltd Purchases New Stake in Cognizant Technology Solutions Corporation (CTSH)

Perpetual Ltd purchased a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 62,810 shares of the information technology service provider’s stock, valued at approximately $4,171,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC grew its position in Cognizant Technology Solutions Corporation by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after purchasing an additional 800 shares during the period. WFG Advisors LP grew its position in Cognizant Technology Solutions Corporation by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Krilogy Financial LLC acquired a new stake in Cognizant Technology Solutions Corporation during the 2nd quarter worth about $137,000. Guardian Life Insurance Co. of America grew its position in Cognizant Technology Solutions Corporation by 1.2% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after purchasing an additional 27 shares during the period. Finally, Manchester Capital Management LLC grew its position in Cognizant Technology Solutions Corporation by 15.7% during the 2nd quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after purchasing an additional 370 shares during the period. 87.56% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on CTSH. KeyCorp reaffirmed a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Bank of America Corporation reaffirmed a “buy” rating and set a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research note on Friday, August 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, October 10th. Finally, Wedbush reissued an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a research note on Monday, September 18th. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $73.66.

TRADEMARK VIOLATION WARNING: “Perpetual Ltd Purchases New Stake in Cognizant Technology Solutions Corporation (CTSH)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/10/18/perpetual-ltd-purchases-new-stake-in-cognizant-technology-solutions-corporation-ctsh.html.

In other Cognizant Technology Solutions Corporation news, EVP Allen Shaheen sold 442 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the insider now directly owns 360,856 shares in the company, valued at approximately $25,259,920. The disclosure for this sale can be found here. Insiders sold 284,547 shares of company stock worth $20,335,827 in the last ninety days. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC grew its position in Cognizant Technology Solutions Corporation by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after purchasing an additional 800 shares during the period. WFG Advisors LP grew its position in Cognizant Technology Solutions Corporation by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Krilogy Financial LLC acquired a new stake in Cognizant Technology Solutions Corporation during the 2nd quarter worth about $137,000. Guardian Life Insurance Co. of America grew its position in Cognizant Technology Solutions Corporation by 1.2% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after purchasing an additional 27 shares during the period. Finally, Manchester Capital Management LLC grew its position in Cognizant Technology Solutions Corporation by 15.7% during the 2nd quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after purchasing an additional 370 shares during the period. 87.56% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on CTSH. KeyCorp reaffirmed a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Bank of America Corporation reaffirmed a “buy” rating and set a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research note on Friday, August 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, October 10th. Finally, Wedbush reissued an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a research note on Monday, September 18th. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $73.66.

TRADEMARK VIOLATION WARNING: “Perpetual Ltd Purchases New Stake in Cognizant Technology Solutions Corporation (CTSH)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/10/18/perpetual-ltd-purchases-new-stake-in-cognizant-technology-solutions-corporation-ctsh.html.

In other Cognizant Technology Solutions Corporation news, EVP Allen Shaheen sold 442 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the insider now directly owns 360,856 shares in the company, valued at approximately $25,259,920. The disclosure for this sale can be found here. Insiders sold 284,547 shares of company stock worth $20,335,827 in the last ninety days. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year.

Cognizant Technology Solutions Corporation 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.

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

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