Keybank National Association OH Sells 802 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

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Keybank National Association OH decreased its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,317 shares of the information technology service provider’s stock after selling 802 shares during the period. Keybank National Association OH’s holdings in Cognizant Technology Solutions were worth $3,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bartlett & Co. LLC lifted its stake in Cognizant Technology Solutions by 89.7% during the third quarter. Bartlett & Co. LLC now owns 3,110 shares of the information technology service provider’s stock worth $187,000 after purchasing an additional 1,471 shares during the period. Tibra Equities Europe Ltd bought a new position in Cognizant Technology Solutions during the third quarter worth about $2,254,000. Parallel Advisors LLC lifted its stake in Cognizant Technology Solutions by 49.3% during the third quarter. Parallel Advisors LLC now owns 2,725 shares of the information technology service provider’s stock worth $164,000 after purchasing an additional 900 shares during the period. Congress Asset Management Co. MA lifted its stake in Cognizant Technology Solutions by 4.6% during the third quarter. Congress Asset Management Co. MA now owns 6,343 shares of the information technology service provider’s stock worth $382,000 after purchasing an additional 278 shares during the period. Finally, United Asset Strategies Inc. lifted its stake in Cognizant Technology Solutions by 2.0% during the third quarter. United Asset Strategies Inc. now owns 98,060 shares of the information technology service provider’s stock worth $5,910,000 after purchasing an additional 1,898 shares during the period. Hedge funds and other institutional investors own 91.23% of the company’s stock.

A number of research analysts have commented on CTSH shares. HSBC cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and cut their price target for the stock from $72.00 to $70.00 in a research note on Tuesday, July 23rd. Credit Suisse Group cut their target price on shares of Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Zacks Investment Research cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a research note on Thursday, September 5th. BMO Capital Markets cut their target price on shares of Cognizant Technology Solutions to $75.00 and set an “outperform” rating for the company in a research note on Monday, October 28th. Finally, ValuEngine upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $71.48.

In related news, Director John E. Klein sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $61.13, for a total value of $611,300.00. Following the sale, the director now directly owns 459,987 shares of the company’s stock, valued at approximately $28,119,005.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen Shaheen sold 1,091 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $62.14, for a total transaction of $67,794.74. Following the completion of the sale, the executive vice president now directly owns 2,010 shares in the company, valued at $124,901.40. The disclosure for this sale can be found here. Insiders sold a total of 18,823 shares of company stock worth $1,169,337 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Shares of Cognizant Technology Solutions stock traded down $0.17 during midday trading on Friday, reaching $62.86. The company had a trading volume of 1,858,000 shares, compared to its average volume of 4,136,774. The stock has a fifty day simple moving average of $60.68 and a 200 day simple moving average of $62.73. The company has a market capitalization of $34.28 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $74.85. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.13.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Cognizant Technology Solutions had a net margin of 12.60% and a return on equity of 20.23%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. Sell-side analysts expect that Cognizant Technology Solutions Corp will post 3.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be given a $0.20 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.80 annualized dividend and a yield of 1.27%. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

Cognizant Technology Solutions 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.

See Also: Exchange-Traded Funds (ETFs)

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

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