KCS Wealth Advisory Takes $589,000 Position in Cognizant Technology Solutions Corp (CTSH)

KCS Wealth Advisory purchased a new stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,290 shares of the information technology service provider’s stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CTSH. FMR LLC grew its position 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 acquiring an additional 11,262,360 shares during the last quarter. Harding Loevner LP grew its position 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 acquiring an additional 3,544,776 shares during the last quarter. Comgest Global Investors S.A.S. grew its position in Cognizant Technology Solutions by 24.5% during the third quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock valued at $538,001,000 after acquiring an additional 1,461,800 shares during the last quarter. Edgewood Management LLC grew its position 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 acquiring an additional 1,443,368 shares during the last quarter. Finally, BT Investment Management Ltd bought a new position in Cognizant Technology Solutions during the second quarter valued at approximately $83,134,000. Institutional investors and hedge funds own 85.98% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (CTSH) opened at $74.56 on Friday. Cognizant Technology Solutions Corp has a 52 week low of $51.52 and a 52 week high of $76.51. The company has a market capitalization of $43,960.00, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.42 and a beta of 1.08. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07.

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

A number of analysts have recently weighed in on CTSH shares. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Tuesday, October 10th. Robert W. Baird increased their price objective on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. BidaskClub lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. SunTrust Banks reissued a “buy” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $77.00 price objective on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $81.75.

In related news, CEO Francisco Dsouza sold 482,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total value of $34,723,280.00. Following the completion of the sale, the chief executive officer now owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sumithra Gomatam sold 3,163 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $76.00, for a total value of $240,388.00. Following the completion of the sale, the insider now directly owns 6,346 shares of the company’s stock, valued at approximately $482,296. The disclosure for this sale can be found here. Insiders sold 807,286 shares of company stock valued at $58,679,209 in the last ninety days. 1.08% of the stock is currently owned by insiders.

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Cognizant Technology Solutions 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 (NASDAQ:CTSH)

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