Jensen Investment Management Inc. boosted its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 23.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,382,086 shares of the information technology service provider’s stock after buying an additional 822,432 shares during the quarter. Cognizant Technology Solutions comprises 3.2% of Jensen Investment Management Inc.’s portfolio, making the stock its 15th biggest holding. Jensen Investment Management Inc. owned 0.77% of Cognizant Technology Solutions worth $277,780,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of CTSH. Field & Main Bank grew its position in shares of Cognizant Technology Solutions by 350.0% in the second quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Resources Investment Advisors Inc. grew its position in shares of Cognizant Technology Solutions by 125.6% in the first quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 280 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at about $37,000. Nelson Roberts Investment Advisors LLC grew its position in shares of Cognizant Technology Solutions by 7,175.0% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 582 shares of the information technology service provider’s stock valued at $42,000 after purchasing an additional 574 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in shares of Cognizant Technology Solutions by 51.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 584 shares of the information technology service provider’s stock valued at $42,000 after purchasing an additional 198 shares during the last quarter. 88.41% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on CTSH shares. CIBC reaffirmed a “market perform” rating on shares of Cognizant Technology Solutions in a research report on Friday, May 3rd. ValuEngine raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Nomura downgraded Cognizant Technology Solutions to a “hold” rating in a research report on Friday, May 3rd. BMO Capital Markets reduced their target price on shares of Cognizant Technology Solutions from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Morgan Stanley set a $64.00 target price on shares of Cognizant Technology Solutions and gave the company a “sell” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company. Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $74.48.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. As a group, research analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio is 19.90%.
In other Cognizant Technology Solutions news, CFO Karen Mcloughlin sold 7,905 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $64.28, for a total transaction of $508,133.40. Following the completion of the transaction, the chief financial officer now owns 65,906 shares in the company, valued at $4,236,437.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Telesmanic sold 3,343 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $60.00, for a total transaction of $200,580.00. Following the transaction, the senior vice president now owns 7,337 shares of the company’s stock, valued at approximately $440,220. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,120 shares of company stock valued at $2,960,866. Corporate insiders own 0.56% of the company’s stock.
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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