Hosking Partners LLP Increases Position in Cognizant Technology Solutions Corporation (CTSH)

Hosking Partners LLP increased its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,917 shares of the information technology service provider’s stock after acquiring an additional 1,192 shares during the quarter. Hosking Partners LLP’s holdings in Cognizant Technology Solutions were worth $19,362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in Cognizant Technology Solutions 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 buying an additional 800 shares in the last quarter. WFG Advisors LP boosted its stake in Cognizant Technology Solutions 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 buying an additional 621 shares in the last quarter. Krilogy Financial LLC acquired a new stake in Cognizant Technology Solutions during the second quarter worth $137,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Cognizant Technology Solutions during the third quarter worth $167,000. Finally, Manchester Capital Management LLC boosted its stake in Cognizant Technology Solutions by 15.7% during the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after buying an additional 370 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Corporation (CTSH) opened at $72.27 on Monday. The stock has a market cap of $42,613.64, a PE ratio of 21.57, a P/E/G ratio of 1.63 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 has a 52-week low of $51.52 and a 52-week high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. analysts forecast 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. 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 annualized dividend and a yield of 0.83%. Cognizant Technology Solutions’s dividend payout ratio is currently 18.52%.

A number of equities research analysts have weighed in on CTSH shares. Vetr upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $71.62 price target on the stock in a research note on Wednesday, August 2nd. Loop Capital upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $83.00 in a research note on Friday, August 4th. Credit Suisse Group set a $80.00 price target on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Friday, August 4th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “buy” rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions in a research note on Friday, August 4th. Finally, Berenberg Bank upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $85.00 in a research note on Tuesday, August 8th. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $81.19.

In other news, CEO Francisco Dsouza sold 482,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total value of $34,723,280.00. Following the completion of the sale, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at approximately $44,783,161.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Patrick Lennox sold 1,725 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $71.57, for a total value of $123,458.25. Following the completion of the sale, the executive vice president now directly owns 8,407 shares of the company’s stock, valued at $601,688.99. The disclosure for this sale can be found here. Insiders have sold a total of 701,918 shares of company stock valued at $50,616,539 over the last three months. Company insiders own 1.08% of the company’s stock.

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About Cognizant Technology Solutions

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 (NASDAQ:CTSH)

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