Flossbach Von Storch AG grew its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 52.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,226,131 shares of the information technology service provider’s stock after purchasing an additional 761,165 shares during the period. Cognizant Technology Solutions makes up approximately 1.6% of Flossbach Von Storch AG’s investment portfolio, making the stock its 16th largest holding. Flossbach Von Storch AG owned 0.38% of Cognizant Technology Solutions worth $171,746,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Kaizen Advisory LLC grew its holdings in Cognizant Technology Solutions by 149.4% during the second quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock worth $113,000 after acquiring an additional 856 shares during the period. Willingdon Wealth Management acquired a new position in Cognizant Technology Solutions during the third quarter worth about $120,000. Fort L.P. acquired a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at $123,000. Stratos Wealth Partners LTD. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $146,000. Finally, San Francisco Sentry Investment Group CA boosted 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 valued at $151,000 after purchasing an additional 1,202 shares during the period. 88.08% of the stock is currently owned by institutional investors.
A number of equities analysts recently weighed in on the company. Wolfe Research assumed coverage on Cognizant Technology Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating for the company. KeyCorp decreased their price target on Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, August 3rd. HSBC upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Bank of America decreased their price target on Cognizant Technology Solutions from $81.00 to $68.00 and set an “underperform” rating for the company in a research report on Friday, November 2nd. Finally, BMO Capital Markets lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $74.00 price target for the company. in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.42.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data 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. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company posted $0.98 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Cognizant Technology Solutions Corp will post 4.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. Cognizant Technology Solutions’s payout ratio is presently 22.66%.
In other Cognizant Technology Solutions news, insider Gajakarnan Vibushanan Kandiah sold 665 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $77.60, for a total transaction of $51,604.00. Following the completion of the sale, the insider now directly owns 14,683 shares in the company, valued at approximately $1,139,400.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen Shaheen sold 352 shares of the firm’s 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 have sold a total of 30,302 shares of company stock valued at $2,298,477 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.
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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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