Pacer Advisors Inc. lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 37.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,950 shares of the information technology service provider’s stock after selling 17,572 shares during the quarter. Pacer Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $2,686,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CTSH. Norges Bank bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at $465,540,000. First Trust Advisors LP grew its stake in shares of Cognizant Technology Solutions by 50.0% in the 4th quarter. First Trust Advisors LP now owns 5,934,516 shares of the information technology service provider’s stock worth $526,510,000 after acquiring an additional 1,979,276 shares in the last quarter. Boston Partners grew its stake in shares of Cognizant Technology Solutions by 26.6% in the 4th quarter. Boston Partners now owns 6,685,153 shares of the information technology service provider’s stock worth $593,070,000 after acquiring an additional 1,405,697 shares in the last quarter. Invesco Ltd. grew its stake in shares of Cognizant Technology Solutions by 7.2% in the 4th quarter. Invesco Ltd. now owns 17,072,441 shares of the information technology service provider’s stock worth $1,514,667,000 after acquiring an additional 1,139,513 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Cognizant Technology Solutions by 4,213.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,038,611 shares of the information technology service provider’s stock worth $92,146,000 after acquiring an additional 1,014,533 shares in the last quarter. Institutional investors and hedge funds own 90.73% of the company’s stock.
CTSH opened at $67.38 on Friday. The stock has a market capitalization of $35.12 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.37 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.22 and a quick ratio of 2.22. The business has a fifty day moving average price of $75.04 and a 200 day moving average price of $83.00. Cognizant Technology Solutions Co. has a 12 month low of $65.24 and a 12 month high of $93.47.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Friday, May 20th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, May 19th. Cognizant Technology Solutions’s payout ratio is currently 25.90%.
Several analysts have recently issued reports on CTSH shares. StockNews.com lowered shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 11th. Citigroup decreased their price objective on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a research report on Thursday, May 5th. Cowen reduced their price target on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. Finally, Cowen cut their target price on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $92.53.
In other Cognizant Technology Solutions news, EVP Andrew J. Stafford sold 5,867 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the transaction, the executive vice president now owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Patsalos-Fox sold 5,687 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the completion of the transaction, the director now directly owns 57,534 shares in the company, valued at $4,280,529.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.
Cognizant Technology Solutions Company Profile (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.
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