BT Investment Management Ltd Has $71.99 Million Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

BT Investment Management Ltd lessened its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 20.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 992,346 shares of the information technology service provider’s stock after selling 259,666 shares during the period. BT Investment Management Ltd owned about 0.17% of Cognizant Technology Solutions Corporation worth $71,985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acrospire Investment Management LLC increased its holdings in Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after buying an additional 800 shares during the last quarter. WFG Advisors LP boosted its position in Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Krilogy Financial LLC bought a new position in Cognizant Technology Solutions Corporation during the second quarter worth about $137,000. Manchester Capital Management LLC boosted its position in Cognizant Technology Solutions Corporation by 15.7% during the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after purchasing an additional 370 shares during the period. Finally, First National Trust Co. bought a new position in Cognizant Technology Solutions Corporation during the second quarter worth about $207,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $78.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, November 1st. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, November 1st. Needham & Company LLC upgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $78.00 to $90.00 in a research report on Wednesday, November 1st. William Blair upgraded shares of Cognizant Technology Solutions Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Finally, Credit Suisse Group restated an “outperform” rating and issued a $89.00 price objective (up from $80.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, November 2nd. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and a consensus target price of $81.19.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down $0.70 during mid-day trading on Wednesday, hitting $74.27. 416,877 shares of the stock were exchanged, compared to its average volume of 3,989,663. Cognizant Technology Solutions Corporation has a 1 year low of $51.35 and a 1 year high of $76.51. The company has a market cap of $43,963.93, a PE ratio of 22.26, a PEG ratio of 1.68 and a beta of 1.10. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. equities research analysts expect that Cognizant Technology Solutions Corporation will post 3.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s payout ratio is 18.52%.

In related news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the transaction, the insider now owns 360,856 shares in the company, valued at approximately $25,259,920. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leo S. Jr. Mackay sold 14,247 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $74.80, for a total transaction of $1,065,675.60. Following the completion of the transaction, the director now owns 12,577 shares in the company, valued at approximately $940,759.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 242,207 shares of company stock worth $17,441,832. 1.08% of the stock is currently owned by company insiders.

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Cognizant Technology Solutions Corporation Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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