Stifel Financial Corp Sells 14,746 Shares of Cognizant Technology Solutions Corp (CTSH)

Stifel Financial Corp decreased its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,301 shares of the information technology service provider’s stock after selling 14,746 shares during the period. Stifel Financial Corp’s holdings in Cognizant Technology Solutions were worth $11,419,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CTSH. FMR LLC increased its stake in Cognizant Technology Solutions by 81.6% during the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after purchasing an additional 11,262,360 shares during the last quarter. Harding Loevner LP increased its stake in Cognizant Technology Solutions by 2,085,162.4% during the third quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock valued at $142,254,000 after purchasing an additional 3,544,776 shares during the last quarter. Comgest Global Investors S.A.S. increased its stake in Cognizant Technology Solutions by 57.7% during the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after purchasing an additional 2,178,800 shares during the last quarter. Edgewood Management LLC increased 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 valued at $1,227,063,000 after purchasing an additional 1,443,368 shares during the last quarter. Finally, Yacktman Asset Management LP bought a new stake in Cognizant Technology Solutions during the second quarter valued at $89,259,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

In other Cognizant Technology Solutions news, VP Malcolm Frank sold 9,462 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total value of $668,111.82. Following the completion of the sale, the vice president now directly owns 15,533 shares of the company’s stock, valued at approximately $1,096,785.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 286,923 shares of the company’s stock, valued at $20,945,379. The disclosure for this sale can be found here. Insiders sold a total of 604,867 shares of company stock valued at $43,675,117 over the last three months. 1.08% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Corp (CTSH) opened at $71.82 on Monday. The stock has a market cap of $42,350.00, a PE ratio of 21.44, a P/E/G ratio of 1.62 and a beta of 1.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29. 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 announced its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. Cognizant Technology Solutions’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. equities analysts forecast that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, November 17th. Cognizant Technology Solutions’s payout ratio is 18.58%.

Several analysts have weighed in on CTSH shares. Bank of America reiterated a “buy” rating and set a $86.00 target price on shares of Cognizant Technology Solutions in a research note on Tuesday, September 12th. Robert W. Baird restated a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions in a research report on Sunday, September 10th. KeyCorp restated a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, September 8th. Royal Bank Of Canada restated a “buy” rating and set a $77.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, September 6th. Finally, Cowen restated a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. Cognizant Technology Solutions currently has a consensus rating of “Buy” and an average target price of $81.91.

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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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