Mawer Investment Management Ltd. trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,782,374 shares of the information technology service provider’s stock after selling 5,850 shares during the period. Mawer Investment Management Ltd. owned 0.33% of Cognizant Technology Solutions worth $146,066,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of CTSH. NEXT Financial Group Inc bought a new stake in Cognizant Technology Solutions in the third quarter worth approximately $40,000. CENTRAL TRUST Co grew its position in Cognizant Technology Solutions by 16.1% in the third quarter. CENTRAL TRUST Co now owns 2,141 shares of the information technology service provider’s stock worth $149,000 after acquiring an additional 297 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in Cognizant Technology Solutions in the third quarter worth approximately $343,000. Meritage Portfolio Management boosted its holdings in shares of Cognizant Technology Solutions by 0.8% during the 3rd quarter. Meritage Portfolio Management now owns 48,421 shares of the information technology service provider’s stock worth $3,361,000 after buying an additional 402 shares during the period. Finally, Alberta Investment Management Corp boosted its holdings in shares of Cognizant Technology Solutions by 3.7% during the 3rd quarter. Alberta Investment Management Corp now owns 248,374 shares of the information technology service provider’s stock worth $17,242,000 after buying an additional 8,800 shares during the period. 87.66% of the stock is owned by institutional investors.
In other Cognizant Technology Solutions news, insider Malcolm Frank sold 461 shares of the stock in a transaction dated Monday, December 14th. The shares were sold at an average price of $79.24, for a total transaction of $36,529.64. Following the sale, the insider now owns 40,592 shares of the company’s stock, valued at approximately $3,216,510.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Matthew W. Friedrich sold 458 shares of the stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $79.24, for a total transaction of $36,291.92. Following the sale, the general counsel now directly owns 5,043 shares in the company, valued at approximately $399,607.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,561 shares of company stock worth $828,293. 0.31% of the stock is owned by insiders.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, February 2nd. The information technology service provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.23). Cognizant Technology Solutions had a return on equity of 19.04% and a net margin of 8.78%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts predict that Cognizant Technology Solutions Co. will post 3.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 26th. Stockholders of record on Thursday, February 18th will be issued a $0.24 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, February 17th. This represents a $0.96 annualized dividend and a dividend yield of 1.32%. Cognizant Technology Solutions’s dividend payout ratio is presently 24.06%.
CTSH has been the subject of several recent analyst reports. Morgan Stanley raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, January 29th. Wells Fargo & Company started coverage on shares of Cognizant Technology Solutions in a research note on Friday, December 18th. They set an “overweight” rating for the company. HSBC cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research note on Thursday, February 4th. JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and upped their target price for the company from $84.00 to $93.00 in a research note on Friday, December 11th. Finally, Societe Generale cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, February 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $77.39.
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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