Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,777 shares of the information technology service provider’s stock after selling 9,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cognizant Technology Solutions were worth $11,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pzena Investment Management LLC grew its stake in Cognizant Technology Solutions by 18.4% in the second quarter. Pzena Investment Management LLC now owns 12,066,171 shares of the information technology service provider’s stock valued at $835,703,000 after purchasing an additional 1,872,844 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Cognizant Technology Solutions by 3.8% in the first quarter. Artisan Partners Limited Partnership now owns 11,808,879 shares of the information technology service provider’s stock valued at $922,510,000 after purchasing an additional 432,664 shares during the last quarter. Geode Capital Management LLC grew its stake in Cognizant Technology Solutions by 1.8% in the first quarter. Geode Capital Management LLC now owns 8,216,795 shares of the information technology service provider’s stock valued at $640,003,000 after purchasing an additional 142,082 shares during the last quarter. Alliancebernstein L.P. grew its stake in Cognizant Technology Solutions by 7.3% in the second quarter. Alliancebernstein L.P. now owns 7,831,638 shares of the information technology service provider’s stock valued at $542,419,000 after purchasing an additional 530,118 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in Cognizant Technology Solutions by 20.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,646,044 shares of the information technology service provider’s stock valued at $460,305,000 after purchasing an additional 1,119,112 shares during the last quarter. Institutional investors own 89.04% of the company’s stock.

Shares of NASDAQ:CTSH opened at $77.62 on Monday. Cognizant Technology Solutions Co. has a 12-month low of $66.19 and a 12-month high of $82.73. The company has a market capitalization of $40.80 billion, a PE ratio of 24.64, a PEG ratio of 1.71 and a beta of 1.15. The business has a 50 day moving average of $74.71 and a two-hundred day moving average of $74.44. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, July 27th. The information technology service provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.03. Cognizant Technology Solutions had a return on equity of 17.41% and a net margin of 9.65%. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.45 billion. Equities research analysts predict that Cognizant Technology Solutions Co. will post 4.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Friday, August 20th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, August 19th. Cognizant Technology Solutions’s payout ratio is presently 28.07%.

CTSH has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating on shares of Cognizant Technology Solutions in a research note on Thursday, July 29th. Societe Generale upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Thursday, July 29th. HSBC upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $90.00 in a research note on Thursday, July 22nd. JPMorgan Chase & Co. boosted their price target on Cognizant Technology Solutions from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 17th. Finally, Susquehanna dropped their price target on Cognizant Technology Solutions from $99.00 to $91.00 and set a “positive” rating on the stock in a research note on Wednesday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $83.13.

In other news, EVP Becky Schmitt sold 2,888 shares of the company’s stock in a transaction that occurred on Thursday, July 1st. The stock was sold at an average price of $69.43, for a total transaction of $200,513.84. Following the completion of the transaction, the executive vice president now directly owns 18,222 shares of the company’s stock, valued at approximately $1,265,153.46. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.

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

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