Cognizant Technology Solutions Corporation (CTSH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 862,832 shares of the information technology service provider’s stock after selling 10,378 shares during the period. Principal Financial Group Inc. owned 0.15% of Cognizant Technology Solutions Corporation worth $62,589,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Pathstone Family Office LLC increased its position in Cognizant Technology Solutions Corporation by 1,208.8% during the 2nd quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock valued at $2,485,000 after buying an additional 1,366 shares in the last quarter. Acrospire Investment Management LLC increased its position in Cognizant Technology Solutions Corporation by 92.6% during the 2nd 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 increased its position in Cognizant Technology Solutions Corporation by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 621 shares in the last quarter. Krilogy Financial LLC acquired a new position in Cognizant Technology Solutions Corporation during the 2nd quarter valued at about $137,000. Finally, Manchester Capital Management LLC increased its position in Cognizant Technology Solutions Corporation by 15.7% during the 2nd quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after buying an additional 370 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

CTSH has been the topic of several research analyst reports. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Tuesday, October 10th. Robert W. Baird boosted their price target on Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Bank of America Corporation reiterated a “buy” rating and set a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, November 3rd. Finally, KeyCorp reiterated a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and a consensus price target of $81.19.

In related news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the insider now owns 360,856 shares of the company’s stock, valued at $25,259,920. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Venkat Krishnaswamy sold 4,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,919 shares of the company’s stock, valued at approximately $293,925. The disclosure for this sale can be found here. Insiders have sold 250,169 shares of company stock valued at $18,015,096 in the last three months. Insiders own 1.08% of the company’s stock.

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Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at $74.56 on Tuesday. Cognizant Technology Solutions Corporation has a fifty-two week low of $51.35 and a fifty-two week high of $76.51. The company has a market capitalization of $43,787.04, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 1.67 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 analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. equities research analysts expect that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.80%. Cognizant Technology Solutions Corporation’s payout ratio is currently 18.52%.

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

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