Congress Asset Management Co. MA Grows Stock Holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Congress Asset Management Co. MA raised its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,343 shares of the information technology service provider’s stock after buying an additional 278 shares during the period. Congress Asset Management Co. MA’s holdings in Cognizant Technology Solutions were worth $382,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $25,000. Field & Main Bank raised its stake in shares of Cognizant Technology Solutions by 350.0% during the 2nd quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock worth $29,000 after acquiring an additional 350 shares in the last quarter. Berman Capital Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 137.7% during the 2nd quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock worth $40,000 after acquiring an additional 369 shares in the last quarter. Citizens Financial Group Inc RI raised its stake in shares of Cognizant Technology Solutions by 35.3% during the 2nd quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock worth $46,000 after acquiring an additional 187 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its stake in shares of Cognizant Technology Solutions by 52.7% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 892 shares of the information technology service provider’s stock worth $57,000 after acquiring an additional 308 shares in the last quarter. 91.23% of the stock is owned by institutional investors.

NASDAQ CTSH traded down $0.39 during mid-day trading on Friday, reaching $62.64. 25,129 shares of the stock were exchanged, compared to its average volume of 4,147,325. The business’s 50 day moving average is $60.70 and its 200-day moving average is $62.77. Cognizant Technology Solutions Corp has a 1 year low of $56.73 and a 1 year high of $74.85. The company has a market capitalization of $34.28 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.53 and a current ratio of 2.53.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. Cognizant Technology Solutions had a net margin of 12.60% and a return on equity of 20.23%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts predict that Cognizant Technology Solutions Corp will post 3.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Monday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.

In other Cognizant Technology Solutions news, EVP Allen Shaheen sold 1,091 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $62.14, for a total transaction of $67,794.74. Following the completion of the sale, the executive vice president now directly owns 2,010 shares in the company, valued at $124,901.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Matthew W. Friedrich sold 452 shares of Cognizant Technology Solutions stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $64.29, for a total transaction of $29,059.08. The disclosure for this sale can be found here. Insiders have sold 18,823 shares of company stock worth $1,169,337 over the last three months. 0.56% of the stock is currently owned by insiders.

Several research analysts recently commented on CTSH shares. BidaskClub lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Robert W. Baird set a $76.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Friday, September 6th. BMO Capital Markets reduced their price objective on shares of Cognizant Technology Solutions to $75.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research note on Thursday, September 5th. Finally, Credit Suisse Group reduced their price objective on shares of Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $71.48.

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 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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