Atlas Capital Advisors LLC cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,791 shares of the information technology service provider’s stock after selling 628 shares during the period. Atlas Capital Advisors LLC’s holdings in Cognizant Technology Solutions were worth $957,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Kore Private Wealth LLC lifted its position in Cognizant Technology Solutions by 144.8% during the 2nd quarter. Kore Private Wealth LLC now owns 475 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 281 shares in the last quarter. Ovata Capital Management Ltd acquired a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at approximately $36,000. NEXT Financial Group Inc acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $40,000. Northwest Investment Counselors LLC acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $42,000. Finally, Independence Bank of Kentucky raised its position in shares of Cognizant Technology Solutions by 55.6% in the 3rd quarter. Independence Bank of Kentucky now owns 630 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. 89.68% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Dharmendra Kumar Sinha sold 25,000 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $68.33, for a total value of $1,708,250.00. Following the completion of the transaction, the insider now owns 42,440 shares of the company’s stock, valued at $2,899,925.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert Telesmanic sold 723 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $73.54, for a total value of $53,169.42. Following the completion of the transaction, the senior vice president now directly owns 9,786 shares of the company’s stock, valued at approximately $719,662.44. The disclosure for this sale can be found here. In the last three months, insiders sold 67,037 shares of company stock valued at $4,644,959. Company insiders own 0.31% of the company’s stock.
CTSH has been the topic of a number of recent analyst reports. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, September 30th. Morgan Stanley upped their target price on Cognizant Technology Solutions from $69.00 to $73.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Investment Research raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $67.00 target price on the stock in a research report on Wednesday, July 29th. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Cognizant Technology Solutions from $60.00 to $68.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.19.
Shares of CTSH opened at $73.12 on Monday. The company has a market cap of $40.19 billion, a P/E ratio of 25.04, a PEG ratio of 1.85 and a beta of 1.17. The stock has a fifty day moving average price of $69.87 and a 200 day moving average price of $61.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.66 and a quick ratio of 2.66. Cognizant Technology Solutions Co. has a 12 month low of $40.01 and a 12 month high of $75.32.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.84 billion. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 3.55 earnings per share for the current year.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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