Veritas Investment Management UK Ltd boosted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,120 shares of the information technology service provider’s stock after purchasing an additional 5,710 shares during the quarter. Cognizant Technology Solutions Corporation comprises approximately 5.0% of Veritas Investment Management UK Ltd’s investment portfolio, making the stock its 10th biggest position. Veritas Investment Management UK Ltd’s holdings in Cognizant Technology Solutions Corporation were worth $14,299,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Linscomb & Williams Inc. bought a new stake in shares of Cognizant Technology Solutions Corporation in the third quarter valued at about $278,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Cognizant Technology Solutions Corporation by 45.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after acquiring an additional 44,982 shares during the period. Comgest Global Investors S.A.S. boosted its position in shares of Cognizant Technology Solutions Corporation by 57.7% in the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after acquiring an additional 2,178,800 shares during the period. Oak Ridge Investments LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 7.1% in the second quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock valued at $11,264,000 after acquiring an additional 11,316 shares during the period. Finally, Atlantic Trust Group LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 1.3% in the second quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock valued at $42,300,000 after acquiring an additional 8,245 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corporation (CTSH) traded up $0.17 during trading on Monday, hitting $74.44. The stock had a trading volume of 795,058 shares, compared to its average volume of 4,007,893. Cognizant Technology Solutions Corporation has a one year low of $51.35 and a one year high of $76.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29. The firm has a market capitalization of $43,790.00, a P/E ratio of 22.17, a P/E/G ratio of 1.67 and a beta of 1.10.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released 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 Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. equities research analysts predict that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 18.58%.

A number of equities research analysts have recently issued reports on the stock. KeyCorp reissued a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Bank of America Corporation reissued a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. BMO Capital Markets boosted their target price on shares of Cognizant Technology Solutions Corporation from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. Needham & Company LLC raised shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and boosted their target price for the company from $78.00 to $90.00 in a research report on Wednesday, November 1st. Finally, Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $81.19.

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In related news, President Rajeev Mehta sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $71.02, for a total value of $2,272,640.00. Following the sale, the president now directly owns 187,965 shares in the company, valued at $13,349,274.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen Shaheen sold 2,358 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $70.20, for a total value of $165,531.60. The disclosure for this sale can be found here. Insiders sold 261,729 shares of company stock valued at $18,845,798 in the last ninety days. 1.08% of the stock is currently owned by insiders.

Cognizant Technology Solutions Corporation 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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