614,821 Shares in Cognizant Technology Solutions Corp (NASDAQ:CTSH) Purchased by Ajo LP

Ajo LP acquired a new stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 614,821 shares of the information technology service provider’s stock, valued at approximately $28,570,000. Ajo LP owned approximately 0.11% of Cognizant Technology Solutions at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTSH. Quadrant Capital Group LLC grew its position in shares of Cognizant Technology Solutions by 49.6% in the 4th quarter. Quadrant Capital Group LLC now owns 2,349 shares of the information technology service provider’s stock worth $133,000 after buying an additional 779 shares during the last quarter. Ieq Capital LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $277,000. Bessemer Group Inc. boosted its stake in Cognizant Technology Solutions by 2.6% in the 4th quarter. Bessemer Group Inc. now owns 19,157 shares of the information technology service provider’s stock worth $1,188,000 after purchasing an additional 487 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Cognizant Technology Solutions by 37.7% during the 4th quarter. Victory Capital Management Inc. now owns 563,142 shares of the information technology service provider’s stock valued at $34,566,000 after acquiring an additional 154,300 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Cognizant Technology Solutions by 15.1% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 113,751 shares of the information technology service provider’s stock valued at $6,980,000 after acquiring an additional 14,887 shares during the period. Institutional investors own 90.44% of the company’s stock.

In other Cognizant Technology Solutions news, insider Malcolm Frank sold 1,492 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total value of $81,806.36. Following the transaction, the insider now owns 32,924 shares of the company’s stock, valued at $1,805,222.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Matthew W. Friedrich sold 3,153 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total transaction of $172,878.99. The disclosure for this sale can be found here. Insiders sold 5,552 shares of company stock worth $296,774 in the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Shares of CTSH stock traded down $1.62 on Tuesday, hitting $56.96. 26,969 shares of the stock traded hands, compared to its average volume of 3,643,842. The firm’s 50-day moving average price is $54.16 and its two-hundred day moving average price is $58.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.90 and a current ratio of 2.90. The stock has a market capitalization of $31.26 billion, a PE ratio of 18.36, a PEG ratio of 1.54 and a beta of 1.15. Cognizant Technology Solutions Corp has a twelve month low of $40.01 and a twelve month high of $71.48.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Thursday, May 7th. The information technology service provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.03. Cognizant Technology Solutions had a net margin of 10.46% and a return on equity of 20.90%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were given a $0.22 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.88 dividend on an annualized basis and a yield of 1.54%. Cognizant Technology Solutions’s payout ratio is currently 22.06%.

Several brokerages recently commented on CTSH. TheStreet lowered shares of Cognizant Technology Solutions from a “b-” rating to a “c” rating in a report on Thursday, March 19th. BidaskClub raised shares of Cognizant Technology Solutions from a “strong sell” rating to a “sell” rating in a report on Tuesday. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Needham & Company LLC reaffirmed a “sell” rating on shares of Cognizant Technology Solutions in a report on Thursday, April 9th. Finally, Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $62.50.

Cognizant Technology Solutions 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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

See Also: Discount Rate

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.