Meag Munich Ergo Kapitalanlagegesellschaft MBH Invests $2.99 Million in Cognizant Technology Solutions Corporation (CTSH) Stock

Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 41,298 shares of the information technology service provider’s stock, valued at approximately $2,988,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathstone Family Office LLC increased its stake 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 worth $2,485,000 after buying an additional 1,366 shares during the period. Acrospire Investment Management LLC increased its stake 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 worth $110,000 after buying an additional 800 shares during the period. WFG Advisors LP increased its stake 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 worth $130,000 after buying an additional 621 shares during the period. Krilogy Financial LLC purchased a new stake in Cognizant Technology Solutions Corporation during the 2nd quarter worth approximately $137,000. Finally, Manchester Capital Management LLC increased its position in shares of Cognizant Technology Solutions Corporation by 15.7% in 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 purchasing an additional 370 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

In other Cognizant Technology Solutions Corporation news, insider Venkat Krishnaswamy sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $75.00, for a total transaction of $300,000.00. Following the completion of the transaction, the insider now directly owns 3,919 shares in the company, valued at approximately $293,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ramakrishna Prasa Chintamaneni sold 5,462 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $72.00, for a total transaction of $393,264.00. Following the transaction, the insider now owns 6,610 shares of the company’s stock, valued at $475,920. The disclosure for this sale can be found here. Insiders sold a total of 250,169 shares of company stock valued at $18,015,096 in the last quarter. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation (CTSH) opened at $74.56 on Tuesday. The company has a market cap of $43,787.04, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corporation has a 12-month low of $51.35 and a 12-month high of $76.51.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be issued a $0.15 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is presently 18.52%.

A number of equities research analysts have commented on the stock. KeyCorp reissued a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Bank of America Corporation reissued a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. BMO Capital Markets increased their price objective on shares of Cognizant Technology Solutions Corporation from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. Needham & Company LLC raised shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and increased their price objective for the company from $78.00 to $90.00 in a research report on Wednesday, November 1st. Finally, Credit Suisse Group set a $80.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has a consensus rating of “Buy” and an average price target of $81.19.

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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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