Victory Capital Management Inc. Purchases 13,507 Shares of Cognizant Technology Solutions Corp (CTSH)

Victory Capital Management Inc. increased its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 551,739 shares of the information technology service provider’s stock after buying an additional 13,507 shares during the period. Victory Capital Management Inc. owned about 0.10% of Cognizant Technology Solutions worth $42,567,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Eads & Heald Wealth Management boosted its holdings in Cognizant Technology Solutions by 2.2% in the second quarter. Eads & Heald Wealth Management now owns 30,916 shares of the information technology service provider’s stock valued at $2,442,000 after purchasing an additional 673 shares in the last quarter. Green Square Capital LLC boosted its holdings in Cognizant Technology Solutions by 5.3% in the second quarter. Green Square Capital LLC now owns 13,430 shares of the information technology service provider’s stock valued at $1,061,000 after purchasing an additional 674 shares in the last quarter. GW Henssler & Associates Ltd. boosted its holdings in Cognizant Technology Solutions by 0.4% in the second quarter. GW Henssler & Associates Ltd. now owns 185,120 shares of the information technology service provider’s stock valued at $14,623,000 after purchasing an additional 679 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Cognizant Technology Solutions by 7.8% in the second quarter. Raymond James Trust N.A. now owns 9,568 shares of the information technology service provider’s stock valued at $756,000 after purchasing an additional 693 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in Cognizant Technology Solutions by 20.8% in the third quarter. Whittier Trust Co. now owns 4,066 shares of the information technology service provider’s stock valued at $313,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

In other news, EVP Allen Shaheen sold 352 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total transaction of $26,361.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Middleton sold 439 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $76.28, for a total value of $33,486.92. Following the sale, the insider now owns 5,135 shares of the company’s stock, valued at approximately $391,697.80. The disclosure for this sale can be found here. Insiders have sold 8,063 shares of company stock valued at $611,427 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Cognizant Technology Solutions stock opened at $70.34 on Friday. Cognizant Technology Solutions Corp has a 12 month low of $65.14 and a 12 month high of $85.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24. The company has a market cap of $41.41 billion, a PE ratio of 19.93, a P/E/G ratio of 1.32 and a beta of 0.96.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 4.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.66%.

A number of brokerages recently issued reports on CTSH. Bank of America lowered their price target on Cognizant Technology Solutions from $81.00 to $68.00 and set an “underperform” rating for the company in a report on Friday, November 2nd. Morgan Stanley decreased their price objective on Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Nomura raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Wednesday, October 31st. Citigroup decreased their price objective on Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Finally, KeyCorp decreased their price objective on Cognizant Technology Solutions from $89.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Cognizant Technology Solutions currently has a consensus rating of “Buy” and a consensus target price of $84.42.

TRADEMARK VIOLATION NOTICE: This article was originally published by American Banking News and is owned by of American Banking News. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/11/10/victory-capital-management-inc-purchases-13507-shares-of-cognizant-technology-solutions-corp-ctsh.html.

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

Featured Article: How Do You Calculate Return on Investment (ROI)?

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply