Global X Management Co. LLC Acquires 1,858 Shares of Cognizant Technology Solutions Corp (CTSH)

Global X Management Co. LLC lifted its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 23.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,721 shares of the information technology service provider’s stock after buying an additional 1,858 shares during the quarter. Global X Management Co. LLC’s holdings in Cognizant Technology Solutions were worth $690,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of CTSH. Harding Loevner LP lifted its position in shares of Cognizant Technology Solutions by 2,085,162.4% in the 3rd quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock worth $142,254,000 after buying an additional 3,544,776 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Cognizant Technology Solutions by 241.2% in the 4th quarter. APG Asset Management N.V. now owns 3,580,820 shares of the information technology service provider’s stock worth $211,784,000 after buying an additional 2,531,494 shares during the last quarter. Genesis Asset Managers LLP lifted its position in shares of Cognizant Technology Solutions by 92.3% in the 4th quarter. Genesis Asset Managers LLP now owns 3,738,507 shares of the information technology service provider’s stock worth $265,509,000 after buying an additional 1,794,164 shares during the last quarter. Comgest Global Investors S.A.S. lifted its position in Cognizant Technology Solutions by 24.5% in the 3rd 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 purchasing an additional 1,461,800 shares during the last quarter. Finally, Edgewood Management LLC lifted its position in Cognizant Technology Solutions by 9.3% in the 3rd 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. Institutional investors own 88.54% of the company’s stock.

CTSH has been the topic of several recent research reports. Barclays lifted their price objective on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Citigroup lifted their price objective 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. Cantor Fitzgerald reiterated a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Oppenheimer reiterated a “buy” rating and issued a $80.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Finally, Needham & Company LLC upgraded shares of Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating and lifted their price objective for the company from $78.00 to $90.00 in a research report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-three have given 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 an average target price of $84.32.

Shares of Cognizant Technology Solutions Corp (CTSH) opened at $81.54 on Wednesday. Cognizant Technology Solutions Corp has a 52-week low of $57.00 and a 52-week high of $82.18. The company has a market cap of $47,598.60, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.21.

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

The firm also recently disclosed 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. The ex-dividend date is Wednesday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 0.98%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s payout ratio is currently 23.72%.

In other news, CEO Francisco Dsouza sold 240,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $74.04, for a total value of $17,769,600.00. Following the transaction, the chief executive officer now owns 541,667 shares of the company’s stock, valued at approximately $40,105,024.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $75.44, for a total transaction of $1,886,000.00. Following the completion of the transaction, the insider now directly owns 271,300 shares in the company, valued at approximately $20,466,872. The disclosure for this sale can be found here. Insiders sold a total of 629,296 shares of company stock worth $47,467,608 in the last ninety days. Corporate insiders own 1.08% of the company’s stock.

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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.

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

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