Thomas White International Ltd. Acquires Shares of 26,731 Cognizant (CTSH)

Thomas White International Ltd. acquired a new stake in Cognizant (NASDAQ:CTSH) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,731 shares of the information technology service provider’s stock, valued at approximately $2,152,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Cognizant by 10.9% in the first quarter. BlackRock Inc. now owns 40,069,496 shares of the information technology service provider’s stock valued at $3,225,593,000 after buying an additional 3,948,014 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Cognizant by 296.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,422,593 shares of the information technology service provider’s stock valued at $314,093,000 after buying an additional 3,307,799 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Cognizant in the fourth quarter valued at $217,524,000. Alliancebernstein L.P. raised its stake in Cognizant by 30.1% in the fourth quarter. Alliancebernstein L.P. now owns 6,309,025 shares of the information technology service provider’s stock valued at $448,067,000 after buying an additional 1,458,220 shares in the last quarter. Finally, Comgest Global Investors S.A.S. raised its stake in Cognizant by 18.3% in the fourth quarter. Comgest Global Investors S.A.S. now owns 8,774,817 shares of the information technology service provider’s stock valued at $623,188,000 after buying an additional 1,358,200 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

In related news, insider Sumithra Gomatam sold 1,060 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $80.50, for a total transaction of $85,330.00. Following the transaction, the insider now owns 8,189 shares of the company’s stock, valued at $659,214.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $82.29, for a total value of $205,725.00. Following the transaction, the chief operating officer now directly owns 23,794 shares in the company, valued at approximately $1,958,008.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,034 shares of company stock worth $3,563,118. Corporate insiders own 0.60% of the company’s stock.

CTSH has been the topic of a number of analyst reports. Zacks Investment Research upgraded Cognizant from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday, February 13th. BidaskClub upgraded Cognizant from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Credit Suisse Group set a $100.00 price target on Cognizant and gave the company a “buy” rating in a research note on Friday, February 9th. Loop Capital raised their price target on Cognizant to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Bank of America raised their price target on Cognizant from $86.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Cognizant currently has a consensus rating of “Buy” and an average price target of $84.30.

NASDAQ CTSH opened at $75.78 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.64 and a current ratio of 3.64. Cognizant has a 52-week low of $65.59 and a 52-week high of $85.10. The stock has a market cap of $44.49 billion, a P/E ratio of 21.47, a P/E/G ratio of 1.45 and a beta of 1.07.

Cognizant (NASDAQ:CTSH) last released its quarterly earnings results on Monday, May 7th. The information technology service provider reported $1.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.06. Cognizant had a return on equity of 20.48% and a net margin of 9.67%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the company posted $0.84 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. analysts predict that Cognizant will post 4.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, May 21st. Cognizant’s dividend payout ratio is currently 22.66%.

Cognizant Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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Institutional Ownership by Quarter for Cognizant (NASDAQ:CTSH)

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