3,457 Shares in Cognizant Technology Solutions Corp (CTSH) Acquired by Signition LP

Signition LP purchased a new stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the 4th quarter, HoldingsChannel reports. The fund purchased 3,457 shares of the information technology service provider’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTSH. Shine Investment Advisory Services Inc. increased its position in shares of Cognizant Technology Solutions by 108.8% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after purchasing an additional 788 shares during the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $121,000. Cerebellum GP LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at about $128,000. WFG Advisors LP increased its position in shares of Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after purchasing an additional 621 shares during the last quarter. Finally, BB&T Investment Services Inc. increased its position in shares of Cognizant Technology Solutions by 86.8% during the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock valued at $141,000 after purchasing an additional 1,011 shares during the last quarter. 86.87% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $79.82 on Thursday. Cognizant Technology Solutions Corp has a 52 week low of $57.00 and a 52 week high of $80.28. 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 $46,057.17, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, topping 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 business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. equities analysts anticipate that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.00%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, February 21st. Cognizant Technology Solutions’s dividend payout ratio is presently 23.72%.

Several research firms have recently commented on CTSH. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Wednesday, January 10th. BMO Capital Markets boosted their price objective on Cognizant Technology Solutions from $78.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. BidaskClub upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. SunTrust Banks reiterated a “buy” rating and set a $90.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, February 7th. Finally, Nomura boosted their price objective 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. Four equities research 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $84.32.

In other news, insider Venkat Krishnaswamy sold 4,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $77.50, for a total transaction of $310,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Francisco Dsouza sold 482,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the transaction, the chief executive officer now owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The disclosure for this sale can be found here. Insiders sold a total of 1,111,296 shares of company stock valued at $82,190,888 over the last 90 days. 1.08% of the stock is currently owned by corporate insiders.

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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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