First Republic Investment Management Inc. increased its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 809,739 shares of the information technology service provider’s stock after purchasing an additional 10,021 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.14% of Cognizant Technology Solutions worth $58,739,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC lifted its stake in Cognizant Technology Solutions by 92.6% in the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after buying an additional 800 shares in the last quarter. WFG Advisors LP raised its holdings in shares of Cognizant Technology Solutions by 46.4% in the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after purchasing an additional 621 shares during the last quarter. Krilogy Financial LLC acquired a new stake in shares of Cognizant Technology Solutions in the second quarter valued at approximately $137,000. BB&T Investment Services Inc. raised its holdings in shares of Cognizant Technology Solutions by 86.8% in the third quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock valued at $141,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $167,000. Institutional investors and hedge funds own 85.98% of the company’s stock.
In other Cognizant Technology Solutions news, VP Malcolm Frank sold 9,462 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $70.61, for a total transaction of $668,111.82. Following the transaction, the vice president now directly owns 15,533 shares in the company, valued at approximately $1,096,785.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Venkat Krishnaswamy sold 4,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $75.00, for a total value of $300,000.00. Following the transaction, the insider now owns 3,919 shares in the company, valued at $293,925. The disclosure for this sale can be found here. Over the last quarter, insiders sold 569,476 shares of company stock worth $41,071,682. 1.08% of the stock is owned by company insiders.
Cognizant Technology Solutions Corp (CTSH) traded down $0.37 during trading hours on Friday, reaching $71.02. 2,207,394 shares of the company’s stock were exchanged, compared to its average volume of 3,778,878. The firm has a market cap of $42,094.76, a P/E ratio of 21.92, a PEG ratio of 1.61 and a beta of 1.07. Cognizant Technology Solutions Corp has a twelve month low of $51.52 and a twelve month high of $76.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the business earned $0.86 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. research analysts expect that Cognizant Technology Solutions Corp will post 3.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is currently 18.52%.
Cognizant Technology Solutions Company 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.
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