Cognizant Technology Solutions Corp (NASDAQ:CTSH) Shares Purchased by Profund Advisors LLC

Profund Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 14.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 50,142 shares of the information technology service provider’s stock after acquiring an additional 6,169 shares during the period. Profund Advisors LLC’s holdings in Cognizant Technology Solutions were worth $3,110,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CTSH. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth $2,361,000. Colony Group LLC boosted its holdings in shares of Cognizant Technology Solutions by 3.6% during the third quarter. Colony Group LLC now owns 11,297 shares of the information technology service provider’s stock worth $681,000 after purchasing an additional 390 shares during the last quarter. Redpoint Investment Management Pty Ltd boosted its holdings in Cognizant Technology Solutions by 1.8% in the third quarter. Redpoint Investment Management Pty Ltd now owns 43,035 shares of the information technology service provider’s stock valued at $2,594,000 after acquiring an additional 779 shares during the last quarter. MV Capital Management Inc. acquired a new position in Cognizant Technology Solutions in the third quarter valued at $90,000. Finally, JT Stratford LLC boosted its holdings in Cognizant Technology Solutions by 18.5% in the third quarter. JT Stratford LLC now owns 16,777 shares of the information technology service provider’s stock valued at $1,011,000 after acquiring an additional 2,620 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

A number of brokerages recently weighed in on CTSH. Berenberg Bank began coverage on Cognizant Technology Solutions in a report on Tuesday, January 21st. They issued a “hold” rating and a $63.00 target price on the stock. Wolfe Research lowered Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research report on Monday, January 6th. Morgan Stanley assumed coverage on Cognizant Technology Solutions in a research report on Wednesday, February 26th. They issued an “underweight” rating and a $59.00 price objective on the stock. BidaskClub lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, March 5th. Finally, Wells Fargo & Co raised their price objective on Cognizant Technology Solutions from $73.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.78.

In other Cognizant Technology Solutions news, CFO Karen Mcloughlin sold 725 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $63.54, for a total value of $46,066.50. Following the completion of the transaction, the chief financial officer now directly owns 67,301 shares in the company, valued at $4,276,305.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Francisco Dsouza sold 62,177 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $61.81, for a total value of $3,843,160.37. Following the completion of the transaction, the director now owns 225,610 shares of the company’s stock, valued at $13,944,954.10. The disclosure for this sale can be found here. Insiders sold 176,314 shares of company stock valued at $10,810,696 over the last quarter. Insiders own 0.56% of the company’s stock.

Shares of NASDAQ CTSH traded up $2.13 during midday trading on Thursday, reaching $49.82. 5,291,000 shares of the company’s stock were exchanged, compared to its average volume of 4,460,064. Cognizant Technology Solutions Corp has a 52-week low of $40.01 and a 52-week high of $74.85. The stock has a market capitalization of $25.46 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.04 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.55 and a current ratio of 2.55. The business’s fifty day moving average price is $60.26 and its two-hundred day moving average price is $61.55.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.03. Cognizant Technology Solutions had a return on equity of 20.60% and a net margin of 10.98%. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts predict that Cognizant Technology Solutions Corp will post 4.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.77%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 14th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 22.06%.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock buyback program on Wednesday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information technology service provider to buy up to 5.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Company 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.

Further Reading: Inverted Yield Curve

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

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