Mawer Investment Management Ltd. Has $57.33 Million Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mawer Investment Management Ltd. trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 14.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 843,098 shares of the information technology service provider’s stock after selling 141,463 shares during the period. Mawer Investment Management Ltd.’s holdings in Cognizant Technology Solutions were worth $57,331,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth $25,000. LRI Investments LLC bought a new position in Cognizant Technology Solutions in the first quarter valued at about $28,000. Spire Wealth Management raised its stake in Cognizant Technology Solutions by 79.1% during the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 193 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC acquired a new position in Cognizant Technology Solutions during the 2nd quarter worth approximately $40,000. 92.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTSH. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. Barclays lifted their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Finally, Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $77.44.

Cognizant Technology Solutions Stock Up 0.4 %

Shares of NASDAQ:CTSH opened at $76.13 on Tuesday. The business’s 50-day moving average is $74.01 and its 200-day moving average is $71.50. Cognizant Technology Solutions Co. has a 1 year low of $62.14 and a 1 year high of $80.27. The company has a market capitalization of $37.85 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the firm posted $1.10 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.58%. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

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. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.