Pacer Advisors Inc. lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,168 shares of the information technology service provider’s stock after selling 2,078 shares during the quarter. Pacer Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $5,088,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Cognizant Technology Solutions by 276.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after purchasing an additional 1,167,033 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Cognizant Technology Solutions by 146.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock worth $126,940,000 after purchasing an additional 978,579 shares in the last quarter. ING Groep NV increased its holdings in Cognizant Technology Solutions by 61.5% in the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after buying an additional 943,372 shares during the last quarter. State Street Corp raised its stake in Cognizant Technology Solutions by 3.6% during the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after buying an additional 867,176 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in Cognizant Technology Solutions during the 3rd quarter worth approximately $61,744,000. Institutional investors own 92.44% of the company’s stock.
Insiders Place Their Bets
In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on CTSH
Cognizant Technology Solutions Price Performance
Shares of NASDAQ CTSH opened at $82.76 on Friday. The firm’s 50-day simple moving average is $79.01 and its 200 day simple moving average is $77.14. The stock has a market cap of $41.03 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.06 and a beta of 1.07. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $83.47.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the business posted $1.16 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.
About Cognizant Technology Solutions
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, Health Sciences, Products and Resources, and Communications, Media and Technology.
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