Bank Hapoalim BM Acquires Shares of 5,630 Cognizant Technology Solutions Corporation (CTSH)

Bank Hapoalim BM acquired a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,630 shares of the information technology service provider’s stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTSH. Linscomb & Williams Inc. purchased a new position in Cognizant Technology Solutions Corporation in the third quarter valued at $278,000. Robeco Institutional Asset Management B.V. increased its holdings in Cognizant Technology Solutions Corporation by 45.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after buying an additional 44,982 shares during the last quarter. Comgest Global Investors S.A.S. increased its holdings in Cognizant Technology Solutions Corporation by 57.7% in the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after buying an additional 2,178,800 shares during the last quarter. Oak Ridge Investments LLC increased its holdings in Cognizant Technology Solutions Corporation by 7.1% in the second quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock valued at $11,264,000 after buying an additional 11,316 shares during the last quarter. Finally, Atlantic Trust Group LLC increased its holdings in Cognizant Technology Solutions Corporation by 1.3% in the second quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock valued at $42,300,000 after buying an additional 8,245 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

In other news, insider Sumithra Gomatam sold 8,000 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $72.00, for a total transaction of $576,000.00. Following the completion of the sale, the insider now directly owns 21,908 shares in the company, valued at approximately $1,577,376. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Venkat Krishnaswamy sold 4,000 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $75.00, for a total transaction of $300,000.00. Following the sale, the insider now owns 3,919 shares of the company’s stock, valued at $293,925. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 244,918 shares of company stock valued at $17,643,259. Insiders own 1.08% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded down $0.88 during trading hours on Thursday, reaching $74.09. 3,244,000 shares of the company were exchanged, compared to its average volume of 3,986,289. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. The firm has a market capitalization of $44,205.69, a P/E ratio of 22.38, a P/E/G ratio of 1.69 and a beta of 1.10. Cognizant Technology Solutions Corporation has a 1 year low of $51.35 and a 1 year high of $76.51.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. Cognizant Technology Solutions Corporation’s payout ratio is 18.52%.

CTSH has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $78.00 target price (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Tuesday, August 8th. Berenberg Bank raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their target price for the company from $65.00 to $85.00 in a report on Tuesday, August 8th. BMO Capital Markets reissued a “buy” rating and issued a $76.00 target price (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Finally, Credit Suisse Group set a $80.00 target price on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and an average target price of $81.19.

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Cognizant Technology Solutions Corporation 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 Corporation (NASDAQ:CTSH)

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