Cognizant Technology Solutions Corporation $CTSH Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 15.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 223,820 shares of the information technology service provider’s stock after purchasing an additional 29,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cognizant Technology Solutions were worth $17,465,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Unison Advisors LLC grew its holdings in Cognizant Technology Solutions by 0.5% in the second quarter. Unison Advisors LLC now owns 29,843 shares of the information technology service provider’s stock valued at $2,329,000 after purchasing an additional 135 shares during the last quarter. Conning Inc. lifted its position in shares of Cognizant Technology Solutions by 4.4% in the first quarter. Conning Inc. now owns 3,547 shares of the information technology service provider’s stock valued at $271,000 after acquiring an additional 149 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Cognizant Technology Solutions by 1.7% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,733 shares of the information technology service provider’s stock valued at $668,000 after acquiring an additional 149 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Cognizant Technology Solutions by 8.6% in the first quarter. Private Trust Co. NA now owns 1,913 shares of the information technology service provider’s stock valued at $146,000 after acquiring an additional 151 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Cognizant Technology Solutions by 7.1% in the first quarter. Allworth Financial LP now owns 2,803 shares of the information technology service provider’s stock valued at $202,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several recent research reports. Guggenheim restated a “buy” rating and issued a $85.00 price objective (down from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. Citigroup initiated coverage on Cognizant Technology Solutions in a research report on Thursday, October 23rd. They issued a “neutral” rating and a $75.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued a “hold” rating and a $80.00 price objective on the stock. Wall Street Zen downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Evercore ISI started coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an “outperform” rating and a $100.00 target price on the stock. Six analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $85.44.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $67.82 on Wednesday. The business’s 50-day moving average price is $68.96 and its 200 day moving average price is $73.64. Cognizant Technology Solutions Corporation has a twelve month low of $65.15 and a twelve month high of $90.82. The company has a market capitalization of $33.12 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, research analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.