Credit Suisse AG Purchases 479,717 Shares of Cognizant Technology Solutions Corp (CTSH)

Credit Suisse AG raised its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 33.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,893,571 shares of the information technology service provider’s stock after purchasing an additional 479,717 shares during the period. Credit Suisse AG’s holdings in Cognizant Technology Solutions were worth $146,088,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of 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 worth $3,384,363,000 after purchasing an additional 2,775,975 shares during the last quarter. Voya Investment Management LLC raised its position in shares of 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 worth $170,915,000 after purchasing an additional 1,949,375 shares during the last quarter. Commonwealth Bank of Australia raised its position in shares of Cognizant Technology Solutions by 1,273.4% in the 3rd quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock worth $154,871,000 after purchasing an additional 1,862,983 shares during the last quarter. Flossbach Von Storch AG raised its position in shares of 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 worth $115,718,000 after purchasing an additional 1,014,395 shares during the last quarter. Finally, FIL Ltd raised its position in shares of Cognizant Technology Solutions by 30.6% in the 3rd quarter. FIL Ltd now owns 4,093,921 shares of the information technology service provider’s stock worth $315,846,000 after purchasing an additional 958,946 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on CTSH shares. BidaskClub lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, August 2nd. Cowen reissued a “buy” rating and issued a $87.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, August 3rd. KeyCorp decreased their target price 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. Finally, JPMorgan Chase & Co. lowered Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 target price for the company. in a research report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $83.95.

In other Cognizant Technology Solutions news, insider Sean Middleton sold 439 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $76.28, for a total transaction of $33,486.92. Following the completion of the sale, the insider now directly owns 5,135 shares in the company, valued at approximately $391,697.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert Telesmanic sold 834 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $77.15, for a total value of $64,343.10. Following the sale, the senior vice president now owns 18,823 shares of the company’s stock, valued at $1,452,194.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,773 shares of company stock valued at $929,282. Corporate insiders own 0.60% of the company’s stock.

Cognizant Technology Solutions stock opened at $68.67 on Friday. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.40 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 quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly 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. 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 return on equity of 22.54% and a net margin of 9.07%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. On average, sell-side analysts expect that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th will be paid 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 1.16%. Cognizant Technology Solutions’s dividend payout ratio is currently 22.66%.

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About Cognizant Technology Solutions

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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