First Republic Investment Management Inc. Sells 3,519 Shares of Cognizant Technology Solutions Corp (CTSH)

First Republic Investment Management Inc. lessened its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 806,220 shares of the information technology service provider’s stock after selling 3,519 shares during the period. First Republic Investment Management Inc. owned 0.14% of Cognizant Technology Solutions worth $57,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTSH. Harding Loevner LP lifted its position in shares of Cognizant Technology Solutions by 2,085,162.4% during the 3rd quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock valued at $142,254,000 after buying an additional 3,544,776 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Cognizant Technology Solutions by 296.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,422,593 shares of the information technology service provider’s stock valued at $314,093,000 after buying an additional 3,307,799 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Cognizant Technology Solutions by 241.2% during the 4th quarter. APG Asset Management N.V. now owns 3,580,820 shares of the information technology service provider’s stock valued at $211,784,000 after buying an additional 2,531,494 shares during the last quarter. Genesis Asset Managers LLP lifted its position in shares of Cognizant Technology Solutions by 92.3% during the 4th quarter. Genesis Asset Managers LLP now owns 3,738,507 shares of the information technology service provider’s stock valued at $265,509,000 after buying an additional 1,794,164 shares during the last quarter. Finally, Comgest Global Investors S.A.S. lifted its position in shares of Cognizant Technology Solutions by 24.5% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock valued at $538,001,000 after buying an additional 1,461,800 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $81.54 on Wednesday. The firm has a market capitalization of $47,598.60, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a one year low of $57.00 and a one year high of $82.18.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. equities analysts predict that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be paid a $0.20 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, February 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 23.72%.

A number of brokerages recently issued reports on CTSH. Bank of America increased their price objective on Cognizant Technology Solutions from $86.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Nomura increased their price objective on Cognizant Technology Solutions from $71.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Tuesday, February 13th. Finally, SunTrust Banks reissued a “buy” rating and set a $90.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $84.32.

In other news, VP Malcolm Frank sold 9,462 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $70.61, for a total transaction of $668,111.82. Following the transaction, the vice president now directly owns 15,533 shares in the company, valued at approximately $1,096,785.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $75.44, for a total value of $1,886,000.00. Following the transaction, the insider now owns 271,300 shares in the company, valued at $20,466,872. The disclosure for this sale can be found here. Insiders sold a total of 629,296 shares of company stock worth $47,467,608 over the last 90 days. Corporate insiders own 1.08% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “First Republic Investment Management Inc. Sells 3,519 Shares of Cognizant Technology Solutions Corp (CTSH)” was originally posted by BBNS and is the property of of BBNS. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://baseballnewssource.com/markets/first-republic-investment-management-inc-sells-3519-shares-of-cognizant-technology-solutions-corp-ctsh/1898718.html.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Three-Way Trade Sends Souza to Diamondbacks and Drury to Yankees
Three-Way Trade Sends Souza to Diamondbacks and Drury to Yankees
Eric Hosmer Agrees to Eight-Year Deal with San Diego Padres
Eric Hosmer Agrees to Eight-Year Deal with San Diego Padres
Report: Eduardo Nunez and Red Sox Agree to Deal for One Year
Report: Eduardo Nunez and Red Sox Agree to Deal for One Year
Los Angeles Angels Plan to Use Shohei Ohtani in Six-Man Rotation
Los Angeles Angels Plan to Use Shohei Ohtani in Six-Man Rotation
Cubs Sign Free Agent Yu Darvish
Cubs Sign Free Agent Yu Darvish
Mother of Pittsburgh Pirates Player Elias Diaz Has Been Kidnapped
Mother of Pittsburgh Pirates Player Elias Diaz Has Been Kidnapped


Leave a Reply

 
© 2006-2018 BBNS.