Sciencast Management LP Reduces Position in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Sciencast Management LP cut its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 36.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,746 shares of the information technology service provider’s stock after selling 9,689 shares during the period. Sciencast Management LP’s holdings in Cognizant Technology Solutions were worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Cerebellum GP LLC lifted its holdings in Cognizant Technology Solutions by 26.6% during the 4th quarter. Cerebellum GP LLC now owns 8,602 shares of the information technology service provider’s stock valued at $533,000 after buying an additional 1,809 shares in the last quarter. Farmers Trust Co. raised its holdings in shares of Cognizant Technology Solutions by 3.2% in the 4th quarter. Farmers Trust Co. now owns 58,121 shares of the information technology service provider’s stock valued at $3,605,000 after purchasing an additional 1,787 shares in the last quarter. Gradient Investments LLC raised its holdings in shares of Cognizant Technology Solutions by 16.9% in the 4th quarter. Gradient Investments LLC now owns 32,401 shares of the information technology service provider’s stock valued at $2,010,000 after purchasing an additional 4,688 shares in the last quarter. Boenning & Scattergood Inc. raised its holdings in shares of Cognizant Technology Solutions by 14.3% in the 4th quarter. Boenning & Scattergood Inc. now owns 5,810 shares of the information technology service provider’s stock valued at $360,000 after purchasing an additional 725 shares in the last quarter. Finally, KCS Wealth Advisory raised its holdings in shares of Cognizant Technology Solutions by 1.5% in the 4th quarter. KCS Wealth Advisory now owns 13,976 shares of the information technology service provider’s stock valued at $867,000 after purchasing an additional 208 shares in the last quarter. 90.61% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of Cognizant Technology Solutions to $75.00 and set an “outperform” rating for the company in a report on Monday, October 28th. Wolfe Research lowered shares of Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $65.00 price target for the company. in a report on Monday, January 6th. Credit Suisse Group reduced their price target on shares of Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Wells Fargo & Co upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $62.00 to $70.00 in a report on Thursday, January 9th. Finally, BidaskClub lowered shares of Cognizant Technology Solutions from a “sell” rating to a “strong sell” rating in a report on Saturday, December 7th. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $70.79.

In other Cognizant Technology Solutions news, Director Francisco Dsouza sold 62,178 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.62, for a total transaction of $3,955,764.36. Following the sale, the director now owns 526,227 shares of the company’s stock, valued at approximately $33,478,561.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Malcolm Frank sold 17,215 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $61.18, for a total transaction of $1,053,213.70. Following the sale, the insider now directly owns 34,763 shares in the company, valued at approximately $2,126,800.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 231,891 shares of company stock valued at $14,392,352. 0.56% of the stock is currently owned by company insiders.

NASDAQ CTSH opened at $62.45 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.13. The firm has a market cap of $33.60 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The company has a 50 day moving average price of $62.07 and a 200 day moving average price of $62.42. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $74.85.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.05 by $0.03. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.21 billion. Cognizant Technology Solutions had a net margin of 12.60% and a return on equity of 20.23%. Cognizant Technology Solutions’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.97 earnings per share for the current fiscal year.

Cognizant Technology Solutions Company 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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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