Two Sigma Advisers LP lessened its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 40.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,052,356 shares of the information technology service provider’s stock after selling 704,251 shares during the quarter. Two Sigma Advisers LP’s holdings in Cognizant Technology Solutions were worth $74,738,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $107,000. Shine Investment Advisory Services Inc. increased its stake in shares of Cognizant Technology Solutions by 108.8% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after acquiring an additional 788 shares during the period. Clearbridge Investments LLC increased its stake in shares of Cognizant Technology Solutions by 101.2% during the fourth quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after acquiring an additional 813 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $121,000. Finally, Cerebellum GP LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $128,000. Institutional investors and hedge funds own 88.77% of the company’s stock.
In related news, VP Malcolm Frank sold 1,091 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $82.11, for a total value of $89,582.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Debashis Chatterjee sold 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $83.00, for a total transaction of $136,950.00. Following the completion of the transaction, the insider now directly owns 37,603 shares of the company’s stock, valued at approximately $3,121,049. The disclosure for this sale can be found here. Insiders sold a total of 626,836 shares of company stock valued at $47,866,540 in the last ninety days. Company insiders own 1.08% of the company’s stock.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data 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 firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter last year, the business posted $0.87 EPS. The company’s revenue was up 10.6% on a year-over-year basis. analysts forecast that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd were paid a $0.20 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.95%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 31.62%.
A number of research analysts recently commented on CTSH shares. BMO Capital Markets reiterated a “buy” rating and set a $78.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, December 5th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Tuesday, January 2nd. Barclays reiterated a “buy” rating and set a $86.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Citigroup upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $75.84 to $79.00 in a report on Thursday, January 18th. Finally, SunTrust Banks restated a “buy” rating and set a $90.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $85.43.
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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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