Bank of Montreal Can lifted its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 16.0% during the 4th quarter, HoldingsChannel reports. The firm owned 750,205 shares of the information technology service provider’s stock after buying an additional 103,456 shares during the period. Bank of Montreal Can’s holdings in Cognizant Technology Solutions were worth $47,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTSH. BlackRock Inc. grew its holdings in shares of Cognizant Technology Solutions by 4.4% during the 3rd quarter. BlackRock Inc. now owns 44,745,894 shares of the information technology service provider’s stock worth $3,452,146,000 after purchasing an additional 1,900,423 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in Cognizant Technology Solutions by 1,273.4% in the third quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock valued at $154,871,000 after buying an additional 1,862,983 shares in the last quarter. FIL Ltd boosted its stake in Cognizant Technology Solutions by 30.6% in the third quarter. FIL Ltd now owns 4,093,921 shares of the information technology service provider’s stock valued at $315,846,000 after buying an additional 958,946 shares in the last quarter. Nordea Investment Management AB boosted its stake in Cognizant Technology Solutions by 12.1% in the third quarter. Nordea Investment Management AB now owns 8,862,865 shares of the information technology service provider’s stock valued at $683,773,000 after buying an additional 954,566 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Cognizant Technology Solutions by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 18,273,087 shares of the information technology service provider’s stock valued at $1,443,390,000 after buying an additional 836,521 shares in the last quarter. 86.17% of the stock is currently owned by institutional investors.

In other news, insider Gajakarnan Vibushanan Kandiah sold 500 shares of the firm’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $68.03, for a total transaction of $34,015.00. Following the completion of the transaction, the insider now directly owns 15,339 shares in the company, valued at $1,043,512.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen Shaheen sold 1,232 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $71.51, for a total value of $88,100.32. Following the transaction, the executive vice president now owns 6,120 shares of the company’s stock, valued at $437,641.20. The disclosure for this sale can be found here. Insiders have sold 26,695 shares of company stock worth $1,776,440 over the last three months. Insiders own 0.60% of the company’s stock.

Shares of CTSH stock opened at $68.12 on Friday. Cognizant Technology Solutions Corp has a 12 month low of $59.47 and a 12 month high of $85.10. The stock has a market cap of $38.68 billion, a PE ratio of 19.30, a PEG ratio of 1.32 and a beta of 0.97. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts predict that Cognizant Technology Solutions Corp will post 4.19 EPS for the current year.

CTSH has been the topic of several research analyst reports. Moffett Nathanson initiated coverage on Cognizant Technology Solutions in a research note on Thursday, October 4th. They issued a “neutral” rating and a $85.00 price objective on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, October 30th. KeyCorp reduced their price objective on Cognizant Technology Solutions from $89.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 31st. Citigroup reduced their price objective on Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Finally, Nomura raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $81.81.

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About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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

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