Nisa Investment Advisors LLC Increases Holdings in Cognizant Technology Solutions Corp (CTSH)

Nisa Investment Advisors LLC raised its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 264,716 shares of the information technology service provider’s stock after purchasing an additional 3,680 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $20,423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rainier Group Investment Advisory LLC purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth $100,000. Kaizen Advisory LLC grew its stake in shares of Cognizant Technology Solutions by 149.4% in the 2nd quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock worth $113,000 after buying an additional 856 shares in the last quarter. Fort L.P. purchased a new position in shares of Cognizant Technology Solutions in the 2nd quarter worth $123,000. San Francisco Sentry Investment Group CA grew its stake in shares of Cognizant Technology Solutions by 170.0% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock worth $151,000 after buying an additional 1,202 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 65.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock worth $175,000 after buying an additional 881 shares in the last quarter. Institutional investors own 87.92% of the company’s stock.

A number of equities analysts recently commented on CTSH shares. Moffett Nathanson started coverage on shares of Cognizant Technology Solutions in a research note on Thursday, October 4th. They set a “neutral” rating and a $85.00 price target for the company. Cowen reaffirmed a “buy” rating and set a $87.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Bank of America cut shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $91.00 to $81.00 in a research note on Tuesday, September 4th. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, August 2nd. Finally, JPMorgan Chase & Co. cut shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 price target for the company. in a research note on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $85.73.

Cognizant Technology Solutions stock opened at $73.99 on Thursday. The stock has a market capitalization of $44.76 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.27 and a quick ratio of 3.27. Cognizant Technology Solutions Corp has a 1 year low of $69.69 and a 1 year high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, August 2nd. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.09. The company had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. As a group, research analysts expect that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current fiscal year.

In other Cognizant Technology Solutions news, President Rajeev Mehta sold 22,239 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $75.86, for a total value of $1,687,050.54. Following the completion of the sale, the president now directly owns 352 shares of the company’s stock, valued at approximately $26,702.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robert Telesmanic sold 17,986 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $77.62, for a total transaction of $1,396,073.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,288 shares of company stock valued at $3,694,551. 0.60% of the stock is owned by corporate insiders.

About Cognizant Technology Solutions

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.

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

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