Home Business CTSH shares bought by USA Financial Portformulas Corp

CTSH shares bought by USA Financial Portformulas Corp

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USA Financial Portformulas Corp lifted its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 26.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 56,615 shares of the information technology service provider’s stock after acquiring an additional 11,898 shares during the quarter. USA Financial Portformulas Corp’s holdings in Cognizant Technology Solutions were worth $4,021,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. 180 Wealth Advisors LLC purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $202,000. Geode Capital Management LLC increased its stake in Cognizant Technology Solutions by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 6,005,499 shares of the information technology service provider’s stock worth $425,587,000 after buying an additional 209,232 shares during the period. Maverick Capital Ltd. purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $8,614,000. Burney Co. increased its stake in Cognizant Technology Solutions by 17.1% during the 4th quarter. Burney Co. now owns 44,247 shares of the information technology service provider’s stock worth $3,142,000 after buying an additional 6,452 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Cognizant Technology Solutions by 6.0% during the 4th quarter. Lazard Asset Management LLC now owns 201,344 shares of the information technology service provider’s stock worth $14,298,000 after buying an additional 11,463 shares during the period. Hedge funds and other institutional investors own 88.72% of the company’s stock.
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In other news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $75.44, for a total value of $1,886,000.00. Following the completion of the sale, the insider now owns 271,300 shares in the company, valued at approximately $20,466,872. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Malcolm Frank sold 1,091 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $82.11, for a total transaction of $89,582.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 631,874 shares of company stock valued at $48,326,067. 1.08% of the stock is owned by company insiders.
Several brokerages recently weighed in on CTSH. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Wednesday, January 10th. BMO Capital Markets increased their price objective on shares of Cognizant Technology Solutions from $78.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. BidaskClub raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. SunTrust Banks reissued a “buy” rating and issued a $90.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, February 7th. Finally, Barclays reissued an “overweight” rating and issued a $88.00 price objective (up from $86.00) on shares of Cognizant Technology Solutions in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.43.
Shares of Cognizant Technology Solutions stock opened at $84.60 on Monday. The firm has a market cap of $49,749.12, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.59 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.21 and a current ratio of 3.21. Cognizant Technology Solutions Corp has a 52 week low of $57.50 and a 52 week high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.15. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. Cognizant Technology Solutions’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. analysts forecast that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.95%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s dividend payout ratio is currently 31.62%.
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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