Cognizant Technology Solutions Corp (CTSH) Shares Sold by Amundi Pioneer Asset Management Inc.

Amundi Pioneer Asset Management Inc. trimmed its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,517,647 shares of the information technology service provider’s stock after selling 32,341 shares during the period. Amundi Pioneer Asset Management Inc. owned approximately 0.60% of Cognizant Technology Solutions worth $255,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC boosted its stake in Cognizant Technology Solutions by 81.6% during the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after purchasing an additional 11,262,360 shares during the period. Comgest Global Investors S.A.S. lifted its stake in shares of Cognizant Technology Solutions by 57.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock worth $395,400,000 after acquiring an additional 2,178,800 shares during the period. Yacktman Asset Management LP acquired a new stake in shares of Cognizant Technology Solutions in the 2nd quarter worth $89,259,000. BT Investment Management Ltd acquired a new stake in shares of Cognizant Technology Solutions in the 2nd quarter worth $83,134,000. Finally, FIL Ltd lifted its stake in shares of Cognizant Technology Solutions by 37.7% in the 2nd quarter. FIL Ltd now owns 3,718,791 shares of the information technology service provider’s stock worth $246,928,000 after acquiring an additional 1,017,981 shares during the period. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Karen Mcloughlin sold 9,482 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $72.24, for a total transaction of $684,979.68. Following the completion of the transaction, the chief financial officer now owns 52,200 shares of the company’s stock, valued at $3,770,928. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the transaction, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at approximately $44,783,161.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 652,042 shares of company stock valued at $47,088,347. 1.08% of the stock is owned by insiders.

A number of brokerages have recently issued reports on CTSH. Barclays increased their price target 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. Royal Bank Of Canada reiterated a “buy” rating and issued a $77.00 price target on shares of Cognizant Technology Solutions in a report on Sunday, October 8th. Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Robert W. Baird raised their target price 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, Pivotal Research began coverage on shares of Cognizant Technology Solutions in a report on Wednesday, November 8th. They set a “buy” rating and a $93.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $81.91.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $70.43 on Wednesday. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market cap of $41,463.84, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.58 and a beta of 1.07. Cognizant Technology Solutions Corp has a 12 month low of $51.52 and a 12 month high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts expect that Cognizant Technology Solutions Corp will post 3.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, November 17th. This represents a $0.60 annualized dividend and a yield of 0.85%. Cognizant Technology Solutions’s payout ratio is 18.52%.

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About Cognizant Technology Solutions

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 (NASDAQ:CTSH)

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