Cascade Investment Advisors Inc. Acquires 12,327 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cascade Investment Advisors Inc. grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 1,540.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,127 shares of the information technology service provider’s stock after purchasing an additional 12,327 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $1,165,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Invesco Ltd. raised its holdings in shares of Cognizant Technology Solutions by 20.4% in the 3rd quarter. Invesco Ltd. now owns 15,932,928 shares of the information technology service provider’s stock valued at $1,182,382,000 after purchasing an additional 2,694,620 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Cognizant Technology Solutions by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 10,788,619 shares of the information technology service provider’s stock worth $800,624,000 after acquiring an additional 517,157 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Cognizant Technology Solutions by 1.5% during the 3rd quarter. Capital Research Global Investors now owns 9,767,688 shares of the information technology service provider’s stock worth $724,860,000 after acquiring an additional 145,753 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cognizant Technology Solutions by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 8,641,541 shares of the information technology service provider’s stock worth $639,469,000 after acquiring an additional 172,668 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Cognizant Technology Solutions by 3.2% during the 3rd quarter. Wellington Management Group LLP now owns 7,928,602 shares of the information technology service provider’s stock worth $588,382,000 after acquiring an additional 247,776 shares in the last quarter. Institutional investors and hedge funds own 90.73% of the company’s stock.

CTSH has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Cognizant Technology Solutions from $78.00 to $85.00 and gave the stock an “underweight” rating in a research note on Monday, February 7th. UBS Group upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $58.50 to $89.00 in a research note on Thursday, January 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cognizant Technology Solutions from $81.00 to $92.00 and gave the stock a “hold” rating in a research report on Monday, January 24th. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $79.00 target price on the stock in a research report on Monday, May 9th. Finally, Citigroup dropped their target price on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a research report on Thursday, May 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Buy” and an average target price of $91.69.

Shares of CTSH stock traded down $0.16 during trading hours on Friday, hitting $73.38. The company’s stock had a trading volume of 3,455,040 shares, compared to its average volume of 3,228,167. The company has a 50 day moving average of $85.59 and a 200 day moving average of $84.77. The stock has a market cap of $38.49 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 12-month low of $66.19 and a 12-month high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.83 billion. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. As a group, analysts anticipate that Cognizant Technology Solutions Co. will post 4.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Friday, May 20th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, May 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 25.90%.

In other Cognizant Technology Solutions news, EVP Andrew J. Stafford sold 5,867 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total transaction of $453,167.08. Following the completion of the transaction, the executive vice president now directly owns 5,872 shares in the company, valued at $453,553.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leo S. Jr. Mackay sold 4,778 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $88.52, for a total transaction of $422,948.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,016 shares of company stock valued at $1,435,235. Company insiders own 0.31% of the company’s stock.

About Cognizant Technology Solutions (Get Rating)

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It 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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