Pacer Advisors Inc. boosted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,519 shares of the information technology service provider’s stock after buying an additional 2,890 shares during the quarter. Pacer Advisors Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $1,779,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CTSH. Acrospire Investment Management LLC lifted its position in Cognizant Technology Solutions Corporation by 92.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after buying an additional 800 shares in the last quarter. WFG Advisors LP lifted its position in Cognizant Technology Solutions Corporation by 46.4% in the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after buying an additional 621 shares in the last quarter. Krilogy Financial LLC purchased a new stake in Cognizant Technology Solutions Corporation in the 2nd quarter worth approximately $137,000. Manchester Capital Management LLC lifted its position in Cognizant Technology Solutions Corporation by 15.7% in the 2nd quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after buying an additional 370 shares in the last quarter. Finally, First National Trust Co. purchased a new stake in Cognizant Technology Solutions Corporation in the 2nd quarter worth approximately $207,000. Institutional investors own 88.00% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded down $0.68 during midday trading on Monday, reaching $72.23. 3,159,531 shares of the company were exchanged, compared to its average volume of 3,986,975. The firm has a market capitalization of $42,990.00, a PE ratio of 21.76, a P/E/G ratio of 1.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corporation has a 52-week low of $51.35 and a 52-week high of $76.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. analysts forecast that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 18.58%.

In other news, General Counsel Matthew W. Friedrich sold 2,711 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $74.30, for a total value of $201,427.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $73.00, for a total transaction of $182,500.00. Following the completion of the transaction, the chief operating officer now owns 24,459 shares of the company’s stock, valued at approximately $1,785,507. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 244,918 shares of company stock valued at $17,643,259. Corporate insiders own 1.08% of the company’s stock.

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A number of research firms have recently weighed in on CTSH. Needham & Company LLC restated a “buy” rating and set a $78.00 price target (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $85.00 in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Tuesday, August 8th. Morgan Stanley raised their price target on shares of Cognizant Technology Solutions Corporation from $74.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Finally, BMO Capital Markets restated a “buy” rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $81.19.

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.

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

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