Cognizant Technology Solutions Corp (CTSH) Shares Sold by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. reduced its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,143,046 shares of the information technology service provider’s stock after selling 203,300 shares during the quarter. Alyeska Investment Group L.P. owned 0.19% of Cognizant Technology Solutions worth $82,917,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its stake in shares of Cognizant Technology Solutions by 92.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after buying an additional 800 shares in the last quarter. WFG Advisors LP raised its stake in shares of Cognizant Technology Solutions by 46.4% in the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 621 shares in the last quarter. Krilogy Financial LLC acquired a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at $137,000. BB&T Investment Services Inc. raised its stake in shares of Cognizant Technology Solutions by 86.8% in the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock valued at $141,000 after buying an additional 1,011 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $167,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $71.61 on Friday. The stock has a market cap of $42,140.00, a PE ratio of 21.02, a PEG ratio of 1.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29. Cognizant Technology Solutions Corp has a one year low of $51.52 and a one year high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.13. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. sell-side analysts expect that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 18.58%.

CTSH has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Tuesday, October 10th. Robert W. Baird increased their target price on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Bank of America reiterated a “buy” rating and set a $86.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, September 12th. SunTrust Banks reiterated a “buy” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Finally, KeyCorp reiterated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, September 8th. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Cognizant Technology Solutions has a consensus rating of “Buy” and an average target price of $81.91.

In related news, General Counsel Matthew W. Friedrich sold 2,717 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $70.75, for a total value of $192,227.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $72.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the insider now owns 311,923 shares in the company, valued at $22,458,456. The disclosure for this sale can be found here. Insiders sold a total of 652,405 shares of company stock worth $47,111,645 in the last ninety days. Insiders own 1.08% of the company’s stock.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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