Stifel Financial Corp Acquires 57,172 Shares of Cognizant Technology Solutions Corp (CTSH)

Stifel Financial Corp increased its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,026 shares of the information technology service provider’s stock after buying an additional 57,172 shares during the period. Stifel Financial Corp owned 0.06% of Cognizant Technology Solutions worth $21,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Davis R M Inc. boosted its holdings in shares of Cognizant Technology Solutions by 7.2% in the fourth quarter. Davis R M Inc. now owns 343,102 shares of the information technology service provider’s stock valued at $21,780,000 after buying an additional 22,923 shares during the period. Alpha Windward LLC boosted its holdings in shares of Cognizant Technology Solutions by 13.9% in the fourth quarter. Alpha Windward LLC now owns 2,099 shares of the information technology service provider’s stock valued at $133,000 after buying an additional 256 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of Cognizant Technology Solutions by 14.7% in the fourth quarter. Naples Global Advisors LLC now owns 11,950 shares of the information technology service provider’s stock valued at $774,000 after buying an additional 1,535 shares during the period. LGT Capital Partners LTD. boosted its holdings in shares of Cognizant Technology Solutions by 5.3% in the fourth quarter. LGT Capital Partners LTD. now owns 282,791 shares of the information technology service provider’s stock valued at $17,952,000 after buying an additional 14,166 shares during the period. Finally, Edgewood Management LLC lifted its position in shares of Cognizant Technology Solutions by 1.4% in the third quarter. Edgewood Management LLC now owns 18,390,315 shares of the information technology service provider’s stock worth $1,418,813,000 after purchasing an additional 252,411 shares in the last quarter. 87.23% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on CTSH. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. BidaskClub lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd. Daiwa Capital Markets began coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, February 13th. They issued a “buy” rating and a $90.00 price objective on the stock. KeyCorp boosted their price objective on shares of Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, February 7th. Finally, BMO Capital Markets raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $81.19.

In other Cognizant Technology Solutions news, insider Gajakarnan Vibushanan Kandiah sold 1,526 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $72.13, for a total transaction of $110,070.38. Following the completion of the transaction, the insider now owns 13,963 shares in the company, valued at approximately $1,007,151.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Malcolm Frank sold 437 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $71.81, for a total transaction of $31,380.97. Following the sale, the vice president now directly owns 27,009 shares of the company’s stock, valued at approximately $1,939,516.29. The disclosure for this sale can be found here. Insiders have sold 33,438 shares of company stock worth $2,304,291 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

CTSH stock opened at $71.21 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.12 and a current ratio of 3.12. Cognizant Technology Solutions Corp has a 52 week low of $59.47 and a 52 week high of $85.10. The stock has a market capitalization of $41.28 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.11 billion. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. On average, analysts predict that Cognizant Technology Solutions Corp will post 4.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%. Cognizant Technology Solutions’s payout ratio is 19.90%.

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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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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