Forsta AP Fonden Has $8.33 Million Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Forsta AP Fonden decreased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 39.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,258 shares of the information technology service provider’s stock after selling 71,700 shares during the period. Forsta AP Fonden’s holdings in Cognizant Technology Solutions were worth $8,331,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its position in Cognizant Technology Solutions by 0.4% in the third quarter. BlackRock Inc. now owns 47,901,916 shares of the information technology service provider’s stock worth $3,554,802,000 after purchasing an additional 201,419 shares during the period. Dodge & Cox lifted its holdings in shares of Cognizant Technology Solutions by 39.1% during the second quarter. Dodge & Cox now owns 29,359,124 shares of the information technology service provider’s stock valued at $2,033,413,000 after acquiring an additional 8,252,344 shares during the period. State Street Corp increased its stake in shares of Cognizant Technology Solutions by 1.7% in the second quarter. State Street Corp now owns 22,530,198 shares of the information technology service provider’s stock valued at $1,560,442,000 after buying an additional 386,979 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of Cognizant Technology Solutions by 16.9% in the third quarter. Pzena Investment Management LLC now owns 14,110,915 shares of the information technology service provider’s stock valued at $1,047,171,000 after buying an additional 2,044,744 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Cognizant Technology Solutions by 5.6% in the second quarter. FMR LLC now owns 11,969,003 shares of the information technology service provider’s stock valued at $828,973,000 after buying an additional 639,725 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

CTSH stock opened at $87.20 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $45.80 billion, a PE ratio of 24.63, a PEG ratio of 1.76 and a beta of 1.15. Cognizant Technology Solutions Co. has a 1-year low of $66.19 and a 1-year high of $92.03. The business’s 50 day simple moving average is $83.68 and its 200 day simple moving average is $77.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, October 26th. The information technology service provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.73 billion. Cognizant Technology Solutions had a return on equity of 17.55% and a net margin of 10.48%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Investors of record on Friday, November 19th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Thursday, November 18th. Cognizant Technology Solutions’s payout ratio is presently 27.12%.

In other Cognizant Technology Solutions news, EVP Andrew J. Stafford sold 6,422 shares of the company’s stock in a transaction on Thursday, December 9th. The stock was sold at an average price of $80.87, for a total value of $519,347.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on Cognizant Technology Solutions from $86.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, November 19th. Barclays boosted their target price on Cognizant Technology Solutions from $73.00 to $78.00 and gave the company an “underweight” rating in a research note on Friday, October 29th. Royal Bank of Canada boosted their target price on Cognizant Technology Solutions from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. The Goldman Sachs Group began coverage on Cognizant Technology Solutions in a research note on Sunday, January 9th. They issued a “buy” rating and a $104.00 target price on the stock. Finally, Morgan Stanley cut Cognizant Technology Solutions from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $91.00 to $95.00 in a research note on Monday, January 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $88.86.

About Cognizant Technology Solutions

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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