Nichols & Pratt Advisers LLP MA Decreases Position in Cognizant Technology Solutions Corp (CTSH)

Nichols & Pratt Advisers LLP MA cut its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,140 shares of the information technology service provider’s stock after selling 900 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Cognizant Technology Solutions were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in CTSH. BlackRock Inc. grew its holdings in Cognizant Technology Solutions by 6.9% during the 2nd quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock worth $3,384,363,000 after acquiring an additional 2,775,975 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Cognizant Technology Solutions by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,273,087 shares of the information technology service provider’s stock worth $1,443,390,000 after acquiring an additional 836,521 shares during the last quarter. Edgewood Management LLC grew its holdings in Cognizant Technology Solutions by 2.3% during the 2nd quarter. Edgewood Management LLC now owns 18,137,904 shares of the information technology service provider’s stock worth $1,432,713,000 after acquiring an additional 414,390 shares during the last quarter. Northern Trust Corp grew its holdings in Cognizant Technology Solutions by 3.8% during the 2nd quarter. Northern Trust Corp now owns 7,277,524 shares of the information technology service provider’s stock worth $574,852,000 after acquiring an additional 269,366 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Cognizant Technology Solutions by 0.9% during the 3rd quarter. Wells Fargo & Company MN now owns 5,408,653 shares of the information technology service provider’s stock worth $417,279,000 after acquiring an additional 49,725 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

Shares of NASDAQ CTSH opened at $69.65 on Wednesday. The company has a market capitalization of $40.33 billion, a PE ratio of 19.73, a PEG ratio of 1.28 and a beta of 0.96. Cognizant Technology Solutions Corp has a 52-week low of $65.14 and a 52-week high of $85.10. 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 (NASDAQ:CTSH) last released its earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Cognizant Technology Solutions’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts expect that Cognizant Technology Solutions Corp will post 4.17 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Tuesday, November 20th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, November 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. Cognizant Technology Solutions’s payout ratio is presently 22.66%.

In related news, insider Gajakarnan Vibushanan Kandiah sold 665 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $77.60, for a total transaction of $51,604.00. Following the transaction, the insider now owns 14,683 shares in the company, valued at approximately $1,139,400.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Middleton sold 439 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $76.28, for a total transaction of $33,486.92. Following the transaction, the insider now owns 5,135 shares in the company, valued at approximately $391,697.80. The disclosure for this sale can be found here. Insiders have sold a total of 30,302 shares of company stock worth $2,298,477 in the last quarter. 0.60% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Friday, July 13th. Wolfe Research assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Bank of America downgraded shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $91.00 to $81.00 in a research report on Tuesday, September 4th. HSBC upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Finally, KeyCorp dropped their price target on shares of Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.42.

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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 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: Rule of 72

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

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