Northwestern Mutual Wealth Management Co. Increases Stake in Cognizant Technology Solutions Corporation (CTSH)

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,908 shares of the information technology service provider’s stock after purchasing an additional 8,139 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cognizant Technology Solutions Corporation were worth $8,626,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Cornerstone Advisors Inc. lifted its position in shares of Cognizant Technology Solutions Corporation by 0.3% during the second quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock worth $241,000 after purchasing an additional 11 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of Cognizant Technology Solutions Corporation by 1.2% during the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after purchasing an additional 27 shares in the last quarter. First Capital Advisors Group LLC. lifted its position in shares of Cognizant Technology Solutions Corporation by 0.9% during the second quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock worth $244,000 after purchasing an additional 32 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of Cognizant Technology Solutions Corporation by 0.5% during the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock worth $425,000 after purchasing an additional 35 shares in the last quarter. Finally, Boltwood Capital Management lifted its holdings in Cognizant Technology Solutions Corporation by 0.4% in the second quarter. Boltwood Capital Management now owns 15,910 shares of the information technology service provider’s stock valued at $1,056,000 after buying an additional 60 shares during the period. Institutional investors own 87.64% of the company’s stock.

Several brokerages recently weighed in on CTSH. Robert W. Baird restated a “buy” rating and issued a $80.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Sunday. KeyCorp restated a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday. Royal Bank Of Canada restated a “buy” rating and issued a $77.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Wednesday. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $78.00 price objective (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Cognizant Technology Solutions Corporation currently has a consensus rating of “Buy” and an average price target of $70.87.

In other news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the insider now owns 360,856 shares in the company, valued at approximately $25,259,920. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allen Shaheen sold 2,358 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $70.20, for a total transaction of $165,531.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,651 shares of company stock valued at $11,254,729. Company insiders own 1.08% of the company’s stock.

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Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 0.45% during mid-day trading on Friday, reaching $71.10. 2,480,022 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $70.26 and its 200 day moving average price is $64.69. The company has a market cap of $41.99 billion, a PE ratio of 22.81 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $72.07.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. Cognizant Technology Solutions Corporation’s payout ratio is 19.17%.

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.

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

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