Pinebridge Investments L.P. Boosts Holdings in Cognizant Technology Solutions Corp (CTSH)

Pinebridge Investments L.P. boosted its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 92.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 40,350 shares of the information technology service provider’s stock after purchasing an additional 19,409 shares during the quarter. Pinebridge Investments L.P.’s holdings in Cognizant Technology Solutions were worth $2,865,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Squar Milner Financial Services LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter worth $375,000. First Allied Advisory Services Inc. lifted its holdings in Cognizant Technology Solutions by 6.2% during the 4th quarter. First Allied Advisory Services Inc. now owns 31,906 shares of the information technology service provider’s stock worth $2,260,000 after buying an additional 1,863 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Cognizant Technology Solutions by 23.6% during the 4th quarter. Global X Management Co. LLC now owns 9,721 shares of the information technology service provider’s stock valued at $690,000 after acquiring an additional 1,858 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Cognizant Technology Solutions by 0.7% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,765,510 shares of the information technology service provider’s stock valued at $125,386,000 after acquiring an additional 11,837 shares during the last quarter. Finally, Signition LP bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $246,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have commented on CTSH shares. SunTrust Banks reiterated a “buy” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Credit Suisse Group reiterated an “outperform” rating and set a $89.00 target price (up previously from $80.00) on shares of Cognizant Technology Solutions in a research report on Thursday, November 2nd. Citigroup upped their target price on shares of Cognizant Technology Solutions from $73.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. BidaskClub upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Finally, Morgan Stanley upped their price objective on shares of Cognizant Technology Solutions from $77.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Cognizant Technology Solutions presently has an average rating of “Buy” and an average price target of $84.32.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $80.95 on Monday. Cognizant Technology Solutions Corp has a one year low of $57.00 and a one year high of $81.87. The stock has a market cap of $47,598.60, a PE ratio of 22.80, a P/E/G ratio of 1.52 and a beta of 1.11. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. equities analysts predict that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 21st. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 23.72%.

In related news, VP Malcolm Frank sold 9,462 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total value of $668,111.82. Following the transaction, the vice president now directly owns 15,533 shares of the company’s stock, valued at $1,096,785.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Francisco Dsouza sold 482,000 shares of Cognizant Technology Solutions stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 621,643 shares in the company, valued at $44,783,161.72. The disclosure for this sale can be found here. Insiders have sold 1,111,296 shares of company stock worth $82,190,888 over the last ninety days. Insiders own 1.08% of the company’s stock.

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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.

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

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