LGT Capital Partners LTD. Sells 10,336 Shares of Cognizant Technology Solutions Corp (CTSH)

LGT Capital Partners LTD. cut its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 272,455 shares of the information technology service provider’s stock after selling 10,336 shares during the quarter. Cognizant Technology Solutions comprises 1.5% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 25th biggest position. LGT Capital Partners LTD.’s holdings in Cognizant Technology Solutions were worth $19,739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CTSH. Acima Private Wealth LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth about $29,000. Sontag Advisory LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter worth about $30,000. Somerset Trust Co raised its stake in Cognizant Technology Solutions by 152.0% during the first quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 298 shares during the period. Citizens Financial Group Inc RI raised its stake in Cognizant Technology Solutions by 176.5% during the fourth quarter. Citizens Financial Group Inc RI now owns 611 shares of the information technology service provider’s stock worth $39,000 after purchasing an additional 390 shares during the period. Finally, Kistler Tiffany Companies LLC raised its stake in Cognizant Technology Solutions by 133.5% during the fourth quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock worth $41,000 after purchasing an additional 367 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

In other news, COO Srinivasan Veeraraghavachary sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $74.00, for a total value of $148,000.00. Following the completion of the transaction, the chief operating officer now owns 38,992 shares in the company, valued at approximately $2,885,408. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Robert Telesmanic sold 838 shares of the company’s stock in a transaction on Friday, January 11th. The shares were sold at an average price of $65.00, for a total transaction of $54,470.00. Following the completion of the transaction, the senior vice president now owns 13,761 shares of the company’s stock, valued at approximately $894,465. The disclosure for this sale can be found here. Insiders have sold a total of 50,668 shares of company stock valued at $3,642,702 in the last quarter. 0.60% of the stock is currently owned by company insiders.

CTSH traded down $0.47 during trading hours on Thursday, hitting $74.13. 79,502 shares of the company’s stock were exchanged, compared to its average volume of 2,895,288. Cognizant Technology Solutions Corp has a 12-month low of $59.47 and a 12-month high of $83.35. The company has a market cap of $42.90 billion, a P/E ratio of 18.45, a PEG ratio of 1.66 and a beta of 0.97. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.07. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts forecast that Cognizant Technology Solutions Corp will post 4.44 earnings per share for the current year.

CTSH has been the topic of a number of analyst reports. Credit Suisse Group set a $85.00 target price on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Monday, December 17th. BidaskClub downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, December 20th. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. Sanford C. Bernstein raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Friday, January 25th. Finally, BMO Capital Markets boosted their price target on shares of Cognizant Technology Solutions to $80.00 and gave the company a “market perform” rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Cognizant Technology Solutions has an average rating of “Buy” and an average target price of $80.62.

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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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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