Cognizant Technology Solutions Corp (CTSH) Stake Increased by LGT Capital Partners LTD.

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LGT Capital Partners LTD. grew its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 282,791 shares of the information technology service provider’s stock after acquiring an additional 14,166 shares during the period. LGT Capital Partners LTD.’s holdings in Cognizant Technology Solutions were worth $17,952,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CTSH. BlackRock Inc. boosted its stake in shares of Cognizant Technology Solutions by 4.4% during the third quarter. BlackRock Inc. now owns 44,745,894 shares of the information technology service provider’s stock valued at $3,452,146,000 after purchasing an additional 1,900,423 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Cognizant Technology Solutions by 1,273.4% during the third quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock valued at $154,871,000 after purchasing an additional 1,862,983 shares during the period. FIL Ltd boosted its stake in shares of Cognizant Technology Solutions by 30.6% during the third quarter. FIL Ltd now owns 4,093,921 shares of the information technology service provider’s stock valued at $315,846,000 after purchasing an additional 958,946 shares during the period. Nordea Investment Management AB boosted its stake in shares of Cognizant Technology Solutions by 12.1% during the third quarter. Nordea Investment Management AB now owns 8,862,865 shares of the information technology service provider’s stock valued at $683,773,000 after purchasing an additional 954,566 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cognizant Technology Solutions by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 18,273,087 shares of the information technology service provider’s stock valued at $1,443,390,000 after purchasing an additional 836,521 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

In other Cognizant Technology Solutions news, VP Malcolm Frank sold 7,251 shares of the business’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $61.88, for a total value of $448,691.88. Following the completion of the transaction, the vice president now directly owns 26,289 shares in the company, valued at $1,626,763.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen Shaheen sold 1,232 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $71.51, for a total transaction of $88,100.32. Following the completion of the transaction, the executive vice president now owns 6,120 shares of the company’s stock, valued at $437,641.20. The disclosure for this sale can be found here. Insiders sold 25,357 shares of company stock valued at $1,687,955 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions stock traded down $0.28 during trading hours on Monday, reaching $64.64. The stock had a trading volume of 327,359 shares, compared to its average volume of 3,576,496. The company has a market capitalization of $37.21 billion, a PE ratio of 18.31, a P/E/G ratio of 1.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.24 and a current ratio of 3.24. Cognizant Technology Solutions Corp has a 52 week low of $59.47 and a 52 week high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.06. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Corp will post 4.12 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, December 20th. Credit Suisse Group set a $85.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Monday, December 17th. Cowen lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 price objective for the company. in a research note on Sunday, December 2nd. Finally, Goldman Sachs Group raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating in a research note on Monday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $81.81.

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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.

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

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