Cognizant Technology Solutions Corp (CTSH) Shares Bought by Argent Capital Management LLC

Argent Capital Management LLC grew its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 50.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 864,620 shares of the information technology service provider’s stock after acquiring an additional 290,300 shares during the period. Cognizant Technology Solutions comprises approximately 2.4% of Argent Capital Management LLC’s holdings, making the stock its 14th biggest holding. Argent Capital Management LLC owned about 0.15% of Cognizant Technology Solutions worth $62,720,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Cognizant Technology Solutions by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after acquiring an additional 11,262,360 shares during the period. Edgewood Management LLC raised its stake in shares of Cognizant Technology Solutions by 9.3% in the 3rd quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock valued at $1,227,063,000 after acquiring an additional 1,443,368 shares during the period. Nordea Investment Management AB raised its stake in shares of Cognizant Technology Solutions by 3.2% in the 3rd quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock valued at $730,914,000 after acquiring an additional 313,364 shares during the period. Comgest Global Investors S.A.S. increased its stake in Cognizant Technology Solutions by 24.5% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after buying an additional 1,461,800 shares during the period. Finally, Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 4.4% during the 2nd quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock worth $465,522,000 after buying an additional 296,899 shares during the period. 87.06% of the stock is currently owned by institutional investors and hedge funds.

In other Cognizant Technology Solutions news, insider Sean Middleton sold 1,278 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $71.36, for a total transaction of $91,198.08. Following the completion of the transaction, the insider now directly owns 3,366 shares of the company’s stock, valued at approximately $240,197.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sumithra Gomatam sold 3,163 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $76.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 593,014 shares of company stock valued at $42,784,474 over the last three months. 1.08% of the stock is currently owned by company insiders.

Several research firms recently issued reports on CTSH. BMO Capital Markets reaffirmed a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, December 5th. BidaskClub downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Vetr raised shares of Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price target on the stock in a research note on Wednesday, November 29th. Pivotal Research began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, November 8th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Cognizant Technology Solutions has a consensus rating of “Buy” and an average target price of $81.91.

Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $71.56 on Tuesday. Cognizant Technology Solutions Corp has a fifty-two week low of $51.52 and a fifty-two week 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 company has a market cap of $42,348.30, a PE ratio of 21.44, a PEG ratio of 1.62 and a beta of 1.07.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, November 17th. Cognizant Technology Solutions’s payout ratio is 18.52%.

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Cognizant Technology Solutions 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 (NASDAQ:CTSH)

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