Mawer Investment Management Ltd. Cuts Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mawer Investment Management Ltd. cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,964,900 shares of the information technology service provider’s stock after selling 12,420 shares during the quarter. Mawer Investment Management Ltd. owned about 0.38% of Cognizant Technology Solutions worth $132,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Financial Services Inc raised its position in shares of Cognizant Technology Solutions by 77.0% in the second quarter. Prospera Financial Services Inc now owns 393 shares of the information technology service provider’s stock worth $27,000 after acquiring an additional 171 shares during the period. Valley National Advisers Inc. raised its position in shares of Cognizant Technology Solutions by 101.3% in the first quarter. Valley National Advisers Inc. now owns 481 shares of the information technology service provider’s stock worth $43,000 after acquiring an additional 242 shares during the period. Kempen Capital Management N.V. acquired a new position in shares of Cognizant Technology Solutions in the first quarter worth about $47,000. Ronald Blue Trust Inc. acquired a new position in shares of Cognizant Technology Solutions in the second quarter worth about $49,000. Finally, Zions Bancorporation N.A. raised its position in shares of Cognizant Technology Solutions by 29.9% in the first quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider’s stock worth $58,000 after acquiring an additional 150 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 1.8 %

Cognizant Technology Solutions stock traded up $1.11 during trading on Thursday, hitting $63.32. The company’s stock had a trading volume of 8,956 shares, compared to its average volume of 4,211,483. The stock has a market capitalization of $32.54 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.22 and a beta of 1.05. The stock’s fifty day moving average is $58.99 and its 200 day moving average is $64.83. Cognizant Technology Solutions Co. has a 1-year low of $51.33 and a 1-year high of $93.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.27 and a current ratio of 2.27.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last released its earnings results on Wednesday, November 2nd. The information technology service provider reported $1.17 EPS for the quarter, meeting the consensus estimate of $1.17. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $5.01 billion. Cognizant Technology Solutions had a return on equity of 19.55% and a net margin of 12.11%. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.46 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Shareholders of record on Friday, November 18th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $1.08 annualized dividend and a yield of 1.71%. Cognizant Technology Solutions’s dividend payout ratio is presently 24.00%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CTSH. JPMorgan Chase & Co. reduced their price target on shares of Cognizant Technology Solutions from $77.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, October 14th. Jefferies Financial Group reduced their price target on shares of Cognizant Technology Solutions from $78.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, September 14th. StockNews.com began coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, October 12th. They set a “buy” rating for the company. BMO Capital Markets cut shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $73.00 to $65.00 in a research note on Thursday, November 3rd. Finally, Wedbush dropped their price objective on shares of Cognizant Technology Solutions from $95.00 to $72.00 in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.16.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, Director Leo S. Jr. Mackay sold 3,300 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $52.79, for a total transaction of $174,207.00. Following the completion of the sale, the director now directly owns 28,310 shares in the company, valued at $1,494,484.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $65.44, for a total transaction of $285,841.92. Following the sale, the director now owns 13,556 shares in the company, valued at $887,104.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leo S. Jr. Mackay sold 3,300 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $52.79, for a total value of $174,207.00. Following the sale, the director now owns 28,310 shares in the company, valued at approximately $1,494,484.90. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Cognizant Technology Solutions Company Profile

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Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

See Also

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

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