Oxbow Advisors LLC Acquires 915 Shares of Cognizant Technology Solutions Corp (CTSH)

Oxbow Advisors LLC raised its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 37,930 shares of the information technology service provider’s stock after buying an additional 915 shares during the quarter. Oxbow Advisors LLC’s holdings in Cognizant Technology Solutions were worth $2,748,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTSH. Norges Bank bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $366,248,000. Davis R M Inc. lifted its position in shares of Cognizant Technology Solutions by 7.2% during 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 purchasing an additional 22,923 shares in the last quarter. Alpha Windward LLC lifted its position in shares of Cognizant Technology Solutions by 13.9% during the fourth quarter. Alpha Windward LLC now owns 2,099 shares of the information technology service provider’s stock valued at $133,000 after purchasing an additional 256 shares in the last quarter. Naples Global Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 14.7% during 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 purchasing an additional 1,535 shares in the last quarter. Finally, LGT Capital Partners LTD. lifted its position in shares of Cognizant Technology Solutions by 5.3% during 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 purchasing an additional 14,166 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on CTSH shares. BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions to $80.00 and gave the company a “market perform” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Monday, April 8th. KeyCorp raised their price objective on shares of Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, February 7th. Sanford C. Bernstein upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Friday, January 25th. Finally, BidaskClub downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $78.40.

NASDAQ CTSH opened at $59.25 on Friday. Cognizant Technology Solutions Corp has a 52-week low of $57.70 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12. The stock has a market cap of $34.07 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.33 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.12). The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.56% and a net margin of 12.39%. Cognizant Technology Solutions’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 4.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. Cognizant Technology Solutions’s payout ratio is 19.90%.

In other news, EVP Allen Shaheen sold 396 shares of Cognizant Technology Solutions stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $73.80, for a total value of $29,224.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 2,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $74.00, for a total transaction of $148,000.00. Following the completion of the transaction, the chief operating officer now owns 38,992 shares of the company’s stock, valued at approximately $2,885,408. The disclosure for this sale can be found here. Insiders sold 49,162 shares of company stock valued at $3,542,788 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

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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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