Impact Partnership Wealth LLC Invests $753,000 in Cognizant Technology Solutions Corporation $CTSH

Impact Partnership Wealth LLC purchased a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSHFree Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,224 shares of the information technology service provider’s stock, valued at approximately $753,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its stake in shares of Cognizant Technology Solutions by 1.8% during the third quarter. New York State Common Retirement Fund now owns 820,170 shares of the information technology service provider’s stock valued at $55,009,000 after purchasing an additional 14,518 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Cognizant Technology Solutions in the third quarter valued at about $4,422,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cognizant Technology Solutions by 11.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 193,464 shares of the information technology service provider’s stock worth $12,976,000 after acquiring an additional 19,177 shares during the last quarter. Phoenix Financial Ltd. bought a new stake in Cognizant Technology Solutions in the third quarter valued at approximately $220,000. Finally, LBP AM SA raised its stake in Cognizant Technology Solutions by 135.2% during the 3rd quarter. LBP AM SA now owns 257,447 shares of the information technology service provider’s stock worth $17,267,000 after buying an additional 147,989 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 2,500 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the chief accounting officer directly owned 36,149 shares of the company’s stock, valued at approximately $2,891,920. This represents a 6.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Patsalos-Fox sold 7,000 shares of Cognizant Technology Solutions stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.52, for a total value of $584,640.00. Following the transaction, the director owned 47,729 shares of the company’s stock, valued at $3,986,326.08. The trade was a 12.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,706 shares of company stock worth $2,317,281 in the last ninety days. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTSH. Susquehanna reaffirmed a “positive” rating and set a $98.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, January 23rd. Royal Bank Of Canada lowered their price objective on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. Citigroup reaffirmed a “neutral” rating and issued a $86.00 price objective (up from $75.00) on shares of Cognizant Technology Solutions in a research report on Thursday, January 22nd. Mizuho set a $85.00 price target on Cognizant Technology Solutions in a research note on Thursday, October 30th. Finally, Berenberg Bank set a $107.00 price objective on Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.28.

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Cognizant Technology Solutions Stock Performance

CTSH opened at $82.45 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. The business’s 50-day simple moving average is $82.68 and its 200 day simple moving average is $74.88. The firm has a market capitalization of $39.79 billion, a PE ratio of 19.13, a PEG ratio of 1.60 and a beta of 0.96. Cognizant Technology Solutions Corporation has a 52-week low of $65.15 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. As a group, sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

About Cognizant Technology Solutions

(Free Report)

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.

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

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