Manitou Investment Management Ltd. Has $1.94 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Manitou Investment Management Ltd. increased its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,604 shares of the information technology service provider’s stock after buying an additional 1,510 shares during the period. Manitou Investment Management Ltd.’s holdings in Cognizant Technology Solutions were worth $1,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTSH. MV Capital Management Inc. increased its holdings in Cognizant Technology Solutions by 94.8% during the fourth quarter. MV Capital Management Inc. now owns 302 shares of the information technology service provider’s stock worth $27,000 after buying an additional 147 shares during the last quarter. Cornerstone Advisory LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $27,000. Fieldpoint Private Securities LLC increased its holdings in Cognizant Technology Solutions by 475.4% during the fourth quarter. Fieldpoint Private Securities LLC now owns 397 shares of the information technology service provider’s stock worth $35,000 after buying an additional 328 shares during the last quarter. CVA Family Office LLC boosted its position in Cognizant Technology Solutions by 1,410.3% during the fourth quarter. CVA Family Office LLC now owns 589 shares of the information technology service provider’s stock worth $52,000 after purchasing an additional 550 shares during the period. Finally, West Bancorporation Inc. bought a new position in Cognizant Technology Solutions during the fourth quarter worth $53,000. Institutional investors and hedge funds own 90.73% of the company’s stock.

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 5,687 shares of the business’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total transaction of $423,112.80. Following the completion of the transaction, the director now owns 57,534 shares of the company’s stock, valued at $4,280,529.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew J. Stafford sold 5,867 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total value of $453,167.08. Following the transaction, the executive vice president now directly owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Shares of Cognizant Technology Solutions stock opened at $67.48 on Thursday. The firm has a 50-day moving average of $75.39 and a 200-day moving average of $83.09. The stock has a market cap of $35.17 billion, a PE ratio of 16.18, a PEG ratio of 1.37 and a beta of 1.10. Cognizant Technology Solutions Co. has a 52-week low of $65.24 and a 52-week high of $93.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The information technology service provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. Cognizant Technology Solutions’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Friday, May 20th were given a dividend of $0.27 per share. The ex-dividend date was Thursday, May 19th. This represents a $1.08 annualized dividend and a yield of 1.60%. Cognizant Technology Solutions’s dividend payout ratio is 25.90%.

CTSH has been the subject of a number of research analyst reports. Cowen reduced their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. StockNews.com cut shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Citigroup reduced their price objective on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a research report on Thursday, May 5th. Finally, Cowen reduced their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.53.

About Cognizant Technology Solutions (Get Rating)

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

Further Reading

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

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