Flinton Capital Management LLC Purchases 33,424 Shares of Cognizant Technology Solutions Corp (CTSH)

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Flinton Capital Management LLC raised its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 11.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 338,528 shares of the information technology service provider’s stock after purchasing an additional 33,424 shares during the period. Flinton Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $26,740,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rainier Group Investment Advisory LLC purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $100,000. Kaizen Advisory LLC raised its position in shares of Cognizant Technology Solutions by 149.4% in the 2nd quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock worth $113,000 after purchasing an additional 856 shares during the last quarter. San Francisco Sentry Investment Group CA raised its position in shares of Cognizant Technology Solutions by 170.0% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock worth $151,000 after purchasing an additional 1,202 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Cognizant Technology Solutions by 65.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock worth $175,000 after purchasing an additional 881 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $180,000. 88.08% of the stock is owned by institutional investors and hedge funds.

CTSH has been the subject of several recent analyst reports. Cowen reaffirmed a “buy” rating and issued a $87.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, August 3rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, August 2nd. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Friday, July 13th. Credit Suisse Group set a $95.00 price target on Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Finally, Morgan Stanley lowered their price target on Cognizant Technology Solutions to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Cognizant Technology Solutions presently has a consensus rating of “Buy” and a consensus target price of $85.18.

In related news, President Rajeev Mehta sold 22,239 shares of Cognizant Technology Solutions stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $75.86, for a total value of $1,687,050.54. Following the completion of the sale, the president now directly owns 352 shares in the company, valued at approximately $26,702.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen Shaheen sold 352 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total value of $26,361.28. The disclosure for this sale can be found here. Insiders sold a total of 64,680 shares of company stock valued at $5,033,135 over the last quarter. 0.60% of the stock is owned by corporate insiders.

NASDAQ CTSH opened at $75.64 on Wednesday. Cognizant Technology Solutions Corp has a one year low of $69.69 and a one year high of $85.10. The stock has a market capitalization of $45.51 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.44 and a beta of 0.94. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, August 2nd. The information technology service provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.10 by $0.09. Cognizant Technology Solutions had a return on equity of 21.66% and a net margin of 9.37%. The company had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the company earned $0.93 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 9.2% on a year-over-year basis. sell-side analysts expect that Cognizant Technology Solutions Corp will post 4.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Wednesday, August 22nd were issued a $0.20 dividend. The ex-dividend date was Tuesday, August 21st. This represents a $0.80 annualized dividend and a yield of 1.06%. Cognizant Technology Solutions’s payout ratio is 22.66%.

Cognizant Technology Solutions Company 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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

Further Reading: Hedge Funds Explained

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).

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

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