Alps Advisors Inc. Acquires 5,628 Shares of Cognizant Technology Solutions Corp (CTSH)

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Alps Advisors Inc. raised its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 54.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,987 shares of the information technology service provider’s stock after purchasing an additional 5,628 shares during the period. Alps Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $1,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its stake in Cognizant Technology Solutions by 6.9% during the second quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock valued at $3,384,363,000 after acquiring an additional 2,775,975 shares in the last quarter. Voya Investment Management LLC grew its stake in Cognizant Technology Solutions by 909.3% during the second quarter. Voya Investment Management LLC now owns 2,163,755 shares of the information technology service provider’s stock valued at $170,915,000 after acquiring an additional 1,949,375 shares in the last quarter. Flossbach Von Storch AG grew its stake in Cognizant Technology Solutions by 225.1% during the second quarter. Flossbach Von Storch AG now owns 1,464,966 shares of the information technology service provider’s stock valued at $115,718,000 after acquiring an additional 1,014,395 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Cognizant Technology Solutions by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 18,273,087 shares of the information technology service provider’s stock valued at $1,443,390,000 after acquiring an additional 836,521 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its stake in Cognizant Technology Solutions by 68.8% during the third quarter. Coronation Fund Managers Ltd. now owns 1,707,758 shares of the information technology service provider’s stock valued at $131,754,000 after acquiring an additional 695,766 shares in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CTSH has been the subject of several recent analyst reports. HSBC raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Citigroup reduced their price objective on shares of Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday. BidaskClub raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Friday, July 13th. Finally, Cowen reissued a “buy” rating and issued a $87.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $84.53.

CTSH stock opened at $69.03 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.27 and a quick ratio of 3.27. Cognizant Technology Solutions Corp has a one year low of $65.14 and a one year high of $85.10. The company has a market capitalization of $40.92 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.27 and a beta of 0.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.06. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, equities research analysts forecast that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. Cognizant Technology Solutions’s payout ratio is 22.66%.

In other news, President Rajeev Mehta sold 22,239 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $75.86, for a total value of $1,687,050.54. Following the completion of the sale, the president now directly owns 352 shares in the company, valued at approximately $26,702.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen Shaheen sold 352 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total transaction of $26,361.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,288 shares of company stock valued at $3,694,551. Company insiders own 0.60% of the company’s stock.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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