Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Genesis Investment Management LLP

Genesis Investment Management LLP decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 74.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,047 shares of the information technology service provider’s stock after selling 264,190 shares during the quarter. Cognizant Technology Solutions accounts for about 7.9% of Genesis Investment Management LLP’s holdings, making the stock its 5th biggest holding. Genesis Investment Management LLP’s holdings in Cognizant Technology Solutions were worth $7,155,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTSH. Addison Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions in the third quarter valued at $30,000. Trust Co. of Vermont grew its stake in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares in the last quarter. Pinnacle Bancorp Inc. increased its holdings in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. Finally, Benjamin Edwards Inc. raised its position in Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CTSH. TD Cowen upped their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho increased their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Fifteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.19.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $77.81 on Tuesday. The stock has a fifty day moving average price of $78.93 and a 200 day moving average price of $76.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market cap of $38.58 billion, a PE ratio of 17.21, a P/E/G ratio of 1.96 and a beta of 1.07. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

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. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.