Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stake Cut by Mawer Investment Management Ltd.


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Mawer Investment Management Ltd. cut its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,782,374 shares of the information technology service provider’s stock after selling 5,850 shares during the quarter. Mawer Investment Management Ltd. owned 0.33% of Cognizant Technology Solutions worth $146,066,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Unison Advisors LLC raised its stake in Cognizant Technology Solutions by 0.4% during the 4th quarter. Unison Advisors LLC now owns 34,903 shares of the information technology service provider’s stock valued at $2,860,000 after purchasing an additional 137 shares during the last quarter. JustInvest LLC raised its stake in Cognizant Technology Solutions by 2.4% during the 4th quarter. JustInvest LLC now owns 6,159 shares of the information technology service provider’s stock valued at $505,000 after purchasing an additional 146 shares during the last quarter. Ellevest Inc. raised its stake in Cognizant Technology Solutions by 38.9% during the 4th quarter. Ellevest Inc. now owns 525 shares of the information technology service provider’s stock valued at $43,000 after purchasing an additional 147 shares during the last quarter. Townsquare Capital LLC raised its stake in Cognizant Technology Solutions by 0.6% during the 3rd quarter. Townsquare Capital LLC now owns 26,988 shares of the information technology service provider’s stock valued at $1,885,000 after purchasing an additional 162 shares during the last quarter. Finally, Iowa State Bank raised its stake in Cognizant Technology Solutions by 1.2% during the 4th quarter. Iowa State Bank now owns 14,431 shares of the information technology service provider’s stock valued at $1,183,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 87.66% of the company’s stock.

Shares of CTSH traded down $0.54 during midday trading on Tuesday, reaching $72.71. 46,702 shares of the stock were exchanged, compared to its average volume of 2,934,554. Cognizant Technology Solutions Co. has a twelve month low of $40.01 and a twelve month high of $82.73. The company has a quick ratio of 2.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.22. The company has a market cap of $39.43 billion, a P/E ratio of 27.13, a PEG ratio of 1.83 and a beta of 1.12. The stock’s 50 day simple moving average is $78.34 and its 200 day simple moving average is $74.43.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, February 2nd. The information technology service provider reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.23). Cognizant Technology Solutions had a return on equity of 19.04% and a net margin of 8.78%. The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same period in the prior year, the business posted $1.07 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts predict that Cognizant Technology Solutions Co. will post 3.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 26th. Investors of record on Thursday, February 18th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, February 17th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.22. Cognizant Technology Solutions’s payout ratio is 24.06%.

Several equities analysts recently commented on CTSH shares. William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 20th. Societe Generale cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, February 4th. Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 6th. Wells Fargo & Company initiated coverage on shares of Cognizant Technology Solutions in a report on Friday, December 18th. They issued an “overweight” rating on the stock. Finally, Oppenheimer initiated coverage on shares of Cognizant Technology Solutions in a report on Monday, January 25th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $77.39.

In related news, General Counsel Matthew W. Friedrich sold 1,077 shares of the business’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $80.20, for a total value of $86,375.40. Following the completion of the transaction, the general counsel now owns 5,043 shares of the company’s stock, valued at $404,448.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Matthew W. Friedrich sold 458 shares of the business’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $79.24, for a total value of $36,291.92. Following the transaction, the general counsel now directly owns 5,043 shares of the company’s stock, valued at approximately $399,607.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,561 shares of company stock valued at $828,293. 0.31% of the stock is owned by insiders.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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