Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Purchased by IFM Investors Pty Ltd


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IFM Investors Pty Ltd boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,419 shares of the information technology service provider’s stock after buying an additional 7,438 shares during the quarter. IFM Investors Pty Ltd’s holdings in Cognizant Technology Solutions were worth $4,296,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CTSH. Cerity Partners LLC boosted its holdings in Cognizant Technology Solutions by 63.2% during the third quarter. Cerity Partners LLC now owns 16,916 shares of the information technology service provider’s stock worth $1,174,000 after buying an additional 6,549 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $374,000. Alps Advisors Inc. boosted its holdings in Cognizant Technology Solutions by 44.7% in the third quarter. Alps Advisors Inc. now owns 9,724 shares of the information technology service provider’s stock valued at $675,000 after purchasing an additional 3,002 shares during the last quarter. Brinker Capital Investments LLC bought a new position in Cognizant Technology Solutions during the 3rd quarter valued at $8,320,000. Finally, The Manufacturers Life Insurance Company raised its position in Cognizant Technology Solutions by 0.4% in the third quarter. The Manufacturers Life Insurance Company now owns 730,596 shares of the information technology service provider’s stock worth $50,717,000 after acquiring an additional 3,099 shares in the last quarter. Hedge funds and other institutional investors own 87.66% of the company’s stock.

In related news, insider Malcolm Frank sold 461 shares of Cognizant Technology Solutions stock in a transaction on Monday, December 14th. The stock was sold at an average price of $79.24, for a total transaction of $36,529.64. Following the completion of the sale, the insider now directly owns 40,592 shares of the company’s stock, valued at $3,216,510.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John Nelson Fox, Jr. sold 6,926 shares of the stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $78.07, for a total value of $540,712.82. Following the completion of the transaction, the director now directly owns 43,554 shares in the company, valued at approximately $3,400,260.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,561 shares of company stock worth $828,293. 0.31% of the stock is owned by insiders.

Several brokerages have recently commented on CTSH. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $84.00 to $93.00 in a research report on Friday, December 11th. Societe Generale raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and upped their target price for the stock from $79.00 to $85.00 in a report on Thursday, October 29th. Wells Fargo & Company initiated coverage on shares of Cognizant Technology Solutions in a research note on Friday, December 18th. They issued an “overweight” rating for the company. Credit Suisse Group raised their price target on Cognizant Technology Solutions from $79.00 to $91.00 and gave the company an “outperform” rating in a report on Tuesday, December 29th. They noted that the move was a valuation call. Finally, Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 6th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $73.79.

Shares of Cognizant Technology Solutions stock opened at $79.61 on Thursday. The business’s 50 day moving average price is $80.20 and its 200 day moving average price is $70.98. Cognizant Technology Solutions Co. has a one year low of $40.01 and a one year high of $82.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.62. The company has a market cap of $43.17 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.87 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 28th. The information technology service provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.07. Cognizant Technology Solutions had a net margin of 8.78% and a return on equity of 19.04%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.15 billion. On average, analysts predict that Cognizant Technology Solutions Co. will post 3.65 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. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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