Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Linscomb & Williams Inc.

Linscomb & Williams Inc. increased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,957 shares of the information technology service provider’s stock after purchasing an additional 533 shares during the quarter. Linscomb & Williams Inc.’s holdings in Cognizant Technology Solutions were worth $1,559,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CTSH. Norges Bank acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $462,515,000. JPMorgan Chase & Co. grew its position in Cognizant Technology Solutions by 314.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,140,098 shares of the information technology service provider’s stock valued at $339,280,000 after acquiring an additional 3,141,127 shares in the last quarter. Pzena Investment Management LLC grew its position in Cognizant Technology Solutions by 18.7% in the first quarter. Pzena Investment Management LLC now owns 10,193,327 shares of the information technology service provider’s stock valued at $796,303,000 after acquiring an additional 1,605,316 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Cognizant Technology Solutions by 16.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 5,526,932 shares of the information technology service provider’s stock valued at $431,764,000 after acquiring an additional 771,351 shares in the last quarter. Finally, LGT Capital Partners LTD. grew its position in Cognizant Technology Solutions by 68.9% in the first quarter. LGT Capital Partners LTD. now owns 1,593,980 shares of the information technology service provider’s stock valued at $124,522,000 after acquiring an additional 650,260 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $79.00 price objective for the company in a research report on Monday, May 10th. Morgan Stanley lowered their price objective on shares of Cognizant Technology Solutions from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Thursday, May 6th. Susquehanna Bancshares increased their price objective on shares of Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a “positive” rating in a research report on Thursday, May 6th. Finally, Susquehanna increased their target price on Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a “positive” rating in a research note on Thursday, May 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $80.76.

Shares of CTSH opened at $71.17 on Friday. The stock’s fifty day moving average price is $75.69. Cognizant Technology Solutions Co. has a 12-month low of $52.50 and a 12-month high of $82.73. The company has a market capitalization of $37.54 billion, a PE ratio of 24.97, a PEG ratio of 1.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, May 4th. The information technology service provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 9.09%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 3.98 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Thursday, May 20th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Wednesday, May 19th. Cognizant Technology Solutions’s payout ratio is 28.07%.

In other news, Director Michael Patsalos-Fox sold 5,858 shares of the firm’s stock in a transaction on Thursday, May 27th. The stock was sold at an average price of $71.20, for a total transaction of $417,089.60. Following the transaction, the director now directly owns 57,830 shares of the company’s stock, valued at $4,117,496. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Malcolm Frank sold 1,031 shares of the firm’s stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $70.84, for a total value of $73,036.04. Following the transaction, the insider now directly owns 45,178 shares in the company, valued at $3,200,409.52. The disclosure for this sale can be found here. Insiders sold 7,560 shares of company stock worth $541,378 over the last quarter. 0.31% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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