Cognizant Technology Solutions Corp (CTSH) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lowered its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 109,400 shares of the information technology service provider’s stock after selling 2,117 shares during the period. Tocqueville Asset Management L.P.’s holdings in Cognizant Technology Solutions were worth $8,440,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its position in Cognizant Technology Solutions by 6.9% during the second quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock worth $3,384,363,000 after acquiring an additional 2,775,975 shares during the last quarter. Voya Investment Management LLC lifted its position in Cognizant Technology Solutions by 909.3% during the second quarter. Voya Investment Management LLC now owns 2,163,755 shares of the information technology service provider’s stock worth $170,915,000 after acquiring an additional 1,949,375 shares during the last quarter. Commonwealth Bank of Australia lifted its position in Cognizant Technology Solutions by 1,273.4% during the third quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock worth $154,871,000 after acquiring an additional 1,862,983 shares during the last quarter. Flossbach Von Storch AG lifted its position in Cognizant Technology Solutions by 225.1% during the second quarter. Flossbach Von Storch AG now owns 1,464,966 shares of the information technology service provider’s stock worth $115,718,000 after acquiring an additional 1,014,395 shares during the last quarter. Finally, FIL Ltd lifted its position in Cognizant Technology Solutions by 30.6% during the third quarter. FIL Ltd now owns 4,093,921 shares of the information technology service provider’s stock worth $315,846,000 after acquiring an additional 958,946 shares during the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

In other Cognizant Technology Solutions news, insider Sean Middleton sold 439 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $76.28, for a total transaction of $33,486.92. Following the completion of the transaction, the insider now directly owns 5,135 shares in the company, valued at $391,697.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert Telesmanic sold 5,062 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $68.00, for a total transaction of $344,216.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,506 shares of company stock valued at $1,101,632. 0.60% of the stock is owned by company insiders.

Several equities research analysts have issued reports on CTSH shares. JPMorgan Chase & Co. downgraded shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 price objective for the company. in a research report on Tuesday, August 14th. Bank of America downgraded shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $91.00 to $81.00 in a research report on Tuesday, September 4th. HSBC upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Moffett Nathanson started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, October 4th. They set a “neutral” rating and a $85.00 price objective for the company. Finally, BMO Capital Markets restated a “buy” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $82.34.

NASDAQ CTSH opened at $68.00 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24. Cognizant Technology Solutions Corp has a 1-year low of $65.14 and a 1-year high of $85.10. The company has a market capitalization of $40.18 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.50 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. Cognizant Technology Solutions’s payout ratio is 22.66%.

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Cognizant Technology Solutions 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.

See Also: Balanced Fund

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

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