Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by Gries Financial LLC

Gries Financial LLC grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,827 shares of the information technology service provider’s stock after buying an additional 446 shares during the quarter. Gries Financial LLC’s holdings in Cognizant Technology Solutions were worth $1,832,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Addison Advisors LLC grew its position in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions during the third quarter worth approximately $30,000. Trust Co. of Vermont boosted its stake in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares in the last quarter. Finally, Eastern Bank bought a new stake in Cognizant Technology Solutions during the third quarter worth approximately $37,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CTSH shares. TD Cowen increased their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Mizuho boosted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $81.19.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $81.19 on Thursday. The stock’s 50-day moving average is $78.94 and its 200 day moving average is $77.11. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.46. The stock has a market cap of $40.26 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 2.06 and a beta of 1.07. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. On average, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Company Profile

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.