Toronto Dominion Bank Grows Position in Cognizant Technology Solutions Corporation (CTSH)

Toronto Dominion Bank increased its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,406 shares of the information technology service provider’s stock after acquiring an additional 23,440 shares during the quarter. Toronto Dominion Bank’s holdings in Cognizant Technology Solutions Corporation were worth $16,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its stake in Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after acquiring an additional 800 shares during the period. WFG Advisors LP raised its stake in Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after acquiring an additional 621 shares during the period. Krilogy Financial LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation in the second quarter valued at approximately $137,000. Manchester Capital Management LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 15.7% in the second 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 period. Finally, First National Trust Co. acquired a new stake in shares of Cognizant Technology Solutions Corporation in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Several equities research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $78.00 price target (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Morgan Stanley raised their price target on shares of Cognizant Technology Solutions Corporation from $74.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $85.00 in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Tuesday, August 8th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $81.19.

In related news, insider Sumithra Gomatam sold 3,163 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $76.00, for a total value of $240,388.00. Following the completion of the transaction, the insider now owns 6,346 shares of the company’s stock, valued at approximately $482,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Rajeev Mehta sold 32,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $71.02, for a total transaction of $2,272,640.00. Following the completion of the transaction, the president now directly owns 187,965 shares of the company’s stock, valued at approximately $13,349,274.30. 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 ninety days. Company insiders own 1.08% of the company’s stock.

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Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up $0.30 during trading on Tuesday, reaching $74.56. 1,743,800 shares of the company were exchanged, compared to its average volume of 3,997,555. Cognizant Technology Solutions Corporation has a 1 year low of $51.35 and a 1 year high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The firm 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.

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

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

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.

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

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