Buckingham Capital Management Inc. grew its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 12.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 19,664 shares of the information technology service provider’s stock after purchasing an additional 2,143 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Cognizant Technology Solutions were worth $1,517,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Cognizant Technology Solutions by 6.9% in the 2nd quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock worth $3,384,363,000 after purchasing an additional 2,775,975 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 909.3% in the 2nd quarter. Voya Investment Management LLC now owns 2,163,755 shares of the information technology service provider’s stock worth $170,915,000 after purchasing an additional 1,949,375 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Cognizant Technology Solutions by 1,273.4% in the 3rd quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock worth $154,871,000 after purchasing an additional 1,862,983 shares in the last quarter. FIL Ltd lifted its holdings in shares of Cognizant Technology Solutions by 30.6% in the 3rd quarter. FIL Ltd now owns 4,093,921 shares of the information technology service provider’s stock worth $315,846,000 after purchasing an additional 958,946 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Cognizant Technology Solutions by 12.1% in the 3rd quarter. Nordea Investment Management AB now owns 8,862,865 shares of the information technology service provider’s stock worth $683,773,000 after purchasing an additional 954,566 shares in the last quarter. Hedge funds and other institutional investors own 86.33% of the company’s stock.
In other news, EVP Allen Shaheen sold 1,232 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $71.51, for a total transaction of $88,100.32. Following the completion of the sale, the executive vice president now directly owns 6,120 shares of the company’s stock, valued at approximately $437,641.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gajakarnan Vibushanan Kandiah sold 665 shares of the firm’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $77.60, for a total value of $51,604.00. Following the sale, the insider now directly owns 14,683 shares of the company’s stock, valued at $1,139,400.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,727 shares of company stock valued at $1,172,889. Insiders own 0.60% of the company’s stock.
Shares of NASDAQ:CTSH opened at $64.62 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Corp has a 1-year low of $64.05 and a 1-year high of $85.10. The firm has a market cap of $37.45 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.39 and a beta of 0.95.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the firm posted $0.98 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 22.66%.
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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