Cognizant Technology Solutions Corp (NASDAQ:CTSH) Stake Lessened by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD lowered its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,797 shares of the information technology service provider’s stock after selling 1,729 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Cognizant Technology Solutions were worth $3,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Cognizant Technology Solutions by 29.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,722,361 shares of the information technology service provider’s stock worth $114,364,000 after buying an additional 395,609 shares in the last quarter. Numeric Investors LLC grew its holdings in shares of Cognizant Technology Solutions by 15.2% during the second quarter. Numeric Investors LLC now owns 62,100 shares of the information technology service provider’s stock worth $4,123,000 after buying an additional 8,200 shares in the last quarter. Zurich Insurance Group Ltd FI grew its holdings in shares of Cognizant Technology Solutions by 21.2% during the second quarter. Zurich Insurance Group Ltd FI now owns 89,366 shares of the information technology service provider’s stock worth $5,934,000 after buying an additional 15,644 shares in the last quarter. AHL Partners LLP grew its stake in Cognizant Technology Solutions by 61.5% in the second quarter. AHL Partners LLP now owns 134,561 shares of the information technology service provider’s stock valued at $8,935,000 after purchasing an additional 51,222 shares in the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. grew its stake in Cognizant Technology Solutions by 70.3% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 993,141 shares of the information technology service provider’s stock valued at $65,945,000 after purchasing an additional 409,891 shares in the last quarter. 86.87% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on the company. Nomura raised their price target on Cognizant Technology Solutions from $71.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Bank of America lifted their target price on Cognizant Technology Solutions from $86.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Tuesday. Finally, SunTrust Banks reiterated a “buy” rating and set a $90.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $84.32.

In related news, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the sale, the chief executive officer now owns 621,643 shares in the company, valued at approximately $44,783,161.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $75.44, for a total value of $1,886,000.00. Following the sale, the insider now owns 271,300 shares in the company, valued at approximately $20,466,872. The disclosure for this sale can be found here. In the last quarter, insiders sold 994,079 shares of company stock worth $73,129,749. Corporate insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $78.11 on Wednesday. Cognizant Technology Solutions Corp has a fifty-two week low of $57.00 and a fifty-two week high of $79.28. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $45,656.21, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the company posted $0.87 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. equities research analysts anticipate that Cognizant Technology Solutions Corp will post 4.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be paid a $0.20 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 23.72%.

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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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