Rathbone Brothers plc Has $3.23 Million Stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Rathbone Brothers plc lowered its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,656 shares of the information technology service provider’s stock after selling 334 shares during the quarter. Rathbone Brothers plc’s holdings in Cognizant Technology Solutions Corporation were worth $3,231,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Guardian Life Insurance Co. of America raised its position in shares of Cognizant Technology Solutions Corporation by 1.2% during the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after acquiring an additional 27 shares during the last quarter. Assetmark Inc. raised its position in shares of Cognizant Technology Solutions Corporation by 24.2% during the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock worth $154,000 after acquiring an additional 505 shares during the last quarter. IFP Advisors Inc raised its position in shares of Cognizant Technology Solutions Corporation by 40.8% during the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock worth $160,000 after acquiring an additional 781 shares during the last quarter. Manchester Capital Management LLC raised its position in shares of Cognizant Technology Solutions Corporation by 15.7% during the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after acquiring an additional 370 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Cognizant Technology Solutions Corporation by 253.9% during the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock worth $192,000 after acquiring an additional 2,318 shares during the last quarter. 87.59% of the stock is currently owned by institutional investors.

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A number of equities research analysts have recently weighed in on CTSH shares. Deutsche Bank AG restated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $85.00 in a research report on Tuesday, August 8th. BMO Capital Markets reiterated a “buy” rating and issued a $76.00 price objective (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Credit Suisse Group set a $80.00 price objective on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Finally, Loop Capital upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $83.00 in a report on Friday, August 4th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and an average target price of $72.51.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 72.06 on Friday. The stock’s 50 day moving average price is $70.75 and its 200-day moving average price is $65.41. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $73.00. The company has a market cap of $42.56 billion, a price-to-earnings ratio of 23.12 and a beta of 1.14.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. Cognizant Technology Solutions Corporation’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. Cognizant Technology Solutions Corporation’s payout ratio is 19.17%.

In other news, President Rajeev Mehta sold 34,437 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total value of $2,498,059.98. Following the transaction, the president now owns 170,063 shares of the company’s stock, valued at $12,336,370.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Debashis Chatterjee sold 3,452 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $69.50, for a total transaction of $239,914.00. Following the completion of the transaction, the insider now directly owns 42,628 shares in the company, valued at approximately $2,962,646. The disclosure for this sale can be found here. Insiders have sold a total of 275,756 shares of company stock worth $19,685,771 in the last three months. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation Company Profile

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.

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

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