DnB Asset Management AS raised its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 12.6% during the fourth quarter, Holdings Channel reports. The fund owned 2,785,987 shares of the information technology service provider’s stock after purchasing an additional 311,300 shares during the period. Cognizant Technology Solutions makes up about 2.4% of DnB Asset Management AS’s holdings, making the stock its 6th biggest holding. DnB Asset Management AS’s holdings in Cognizant Technology Solutions were worth $197,861,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Comerica Securities Inc. grew its position in Cognizant Technology Solutions by 0.4% in the second quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after acquiring an additional 32 shares during the last quarter. CWA Asset Management Group LLC grew its position in Cognizant Technology Solutions by 1.0% in the second quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock valued at $380,000 after acquiring an additional 57 shares during the last quarter. Westover Capital Advisors LLC grew its position in Cognizant Technology Solutions by 2.2% in the second quarter. Westover Capital Advisors LLC now owns 3,885 shares of the information technology service provider’s stock valued at $258,000 after acquiring an additional 83 shares during the last quarter. Frontier Wealth Management LLC grew its position in Cognizant Technology Solutions by 1.0% in the second quarter. Frontier Wealth Management LLC now owns 10,099 shares of the information technology service provider’s stock valued at $671,000 after acquiring an additional 99 shares during the last quarter. Finally, Simonbaker & Partners LLC grew its position in Cognizant Technology Solutions by 2.3% in the second quarter. Simonbaker & Partners LLC now owns 4,853 shares of the information technology service provider’s stock valued at $322,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 85.98% of the company’s stock.

In other Cognizant Technology Solutions news, insider Sumithra Gomatam sold 3,163 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $76.00, for a total value of $240,388.00. Following the transaction, the insider now directly owns 6,346 shares of the company’s stock, valued at $482,296. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $75.00, for a total value of $300,000.00. Following the completion of the transaction, the insider now directly owns 3,919 shares in the company, valued at $293,925. The disclosure for this sale can be found here. Over the last three months, insiders sold 567,254 shares of company stock worth $40,907,258. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corp (CTSH) opened at $73.46 on Wednesday. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $43,320.00, a P/E ratio of 22.74, a P/E/G ratio of 1.40 and a beta of 1.08. Cognizant Technology Solutions Corp has a 12 month low of $51.52 and a 12 month high of $76.51.

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

A number of research analysts have issued reports on the company. Vetr upgraded Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 target price on the stock in a research report on Tuesday, September 19th. Barclays lifted their target price on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Wedbush reiterated an “outperform” rating on shares of Cognizant Technology Solutions in a research report on Monday, September 18th. Cantor Fitzgerald reiterated a “buy” rating and issued a $78.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Finally, William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Cognizant Technology Solutions currently has an average rating of “Buy” and an average target price of $81.68.

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Cognizant Technology Solutions 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 (NASDAQ:CTSH)

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