AKO Capital LLP Decreases Holdings in Cognizant Technology Solutions Corp (CTSH)

AKO Capital LLP lowered its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 42.7% during the third quarter, HoldingsChannel reports. The firm owned 538,263 shares of the information technology service provider’s stock after selling 401,384 shares during the period. Cognizant Technology Solutions comprises 2.1% of AKO Capital LLP’s holdings, making the stock its 17th biggest position. AKO Capital LLP’s holdings in Cognizant Technology Solutions were worth $41,527,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CTSH. BlackRock Inc. lifted its holdings in Cognizant Technology Solutions by 6.9% in the 2nd quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock valued at $3,384,363,000 after purchasing an additional 2,775,975 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Cognizant Technology Solutions by 909.3% in the 2nd quarter. Voya Investment Management LLC now owns 2,163,755 shares of the information technology service provider’s stock valued at $170,915,000 after purchasing an additional 1,949,375 shares in the last quarter. Flossbach Von Storch AG lifted its holdings in Cognizant Technology Solutions by 225.1% in the 2nd quarter. Flossbach Von Storch AG now owns 1,464,966 shares of the information technology service provider’s stock valued at $115,718,000 after purchasing an additional 1,014,395 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Cognizant Technology Solutions by 4.8% in the 2nd 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 in the last quarter. Finally, Coronation Fund Managers Ltd. lifted its holdings in Cognizant Technology Solutions by 68.8% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 1,707,758 shares of the information technology service provider’s stock valued at $131,754,000 after purchasing an additional 695,766 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

Shares of NASDAQ:CTSH opened at $71.24 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market cap of $40.41 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.28 and a beta of 0.96. Cognizant Technology Solutions Corp has a 12-month low of $65.14 and a 12-month high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. On average, sell-side analysts forecast 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. Investors of record on Tuesday, November 20th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Monday, November 19th. Cognizant Technology Solutions’s payout ratio is 22.66%.

A number of brokerages have weighed in on CTSH. Wolfe Research assumed coverage on Cognizant Technology Solutions in a report on Tuesday, July 17th. They issued a “market perform” rating on the stock. KeyCorp cut their target price on Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, August 3rd. HSBC raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Bank of America cut their target price on Cognizant Technology Solutions from $81.00 to $68.00 and set an “underperform” rating for the company in a research note on Friday, November 2nd. Finally, BMO Capital Markets downgraded Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $74.00 target price for the company. in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Cognizant Technology Solutions has a consensus rating of “Buy” and a consensus price target of $84.42.

In related news, 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 transaction of $26,361.28. The sale 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 firm’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $76.28, for a total value of $33,486.92. Following the sale, the insider now directly owns 5,135 shares of the company’s stock, valued at $391,697.80. The disclosure for this sale can be found here. Insiders have sold a total of 8,063 shares of company stock valued at $611,427 over the last three months. Corporate insiders own 0.60% of the company’s stock.

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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.

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

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