Vident Investment Advisory LLC Invests $654,000 in Cognizant Technology Solutions Corp (CTSH)

Vident Investment Advisory LLC acquired a new position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,019 shares of the information technology service provider’s stock, valued at approximately $654,000.

Other large investors have also recently bought and sold shares of the company. Linscomb & Williams Inc. bought a new position in Cognizant Technology Solutions in the third quarter valued at approximately $278,000. Robeco Institutional Asset Management B.V. grew its stake in Cognizant Technology Solutions 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 purchasing an additional 44,982 shares in the last quarter. Comgest Global Investors S.A.S. grew its stake in Cognizant Technology Solutions 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 purchasing an additional 2,178,800 shares in the last quarter. Rothschild Asset Management Inc. bought a new position in Cognizant Technology Solutions in the third quarter valued at approximately $12,538,000. Finally, Oak Ridge Investments LLC grew its stake in Cognizant Technology Solutions 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 purchasing an additional 11,316 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

A number of research firms have weighed in on CTSH. Cantor Fitzgerald restated a “buy” rating and issued a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Oppenheimer restated a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Needham & Company LLC upgraded Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating and raised their price target for the company from $78.00 to $90.00 in a research note on Wednesday, November 1st. William Blair raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $89.00 price objective (up from $80.00) on shares of Cognizant Technology Solutions in a research report on Thursday, November 2nd. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $81.91.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $72.08 on Friday. The firm has a market capitalization of $41,976.83, a P/E ratio of 21.25, a P/E/G ratio of 1.60 and a beta of 1.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corp has a fifty-two week low of $51.52 and a fifty-two week high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.86 EPS. analysts predict that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, November 17th. This represents a $0.60 annualized dividend and a yield of 0.83%. Cognizant Technology Solutions’s payout ratio is currently 18.52%.

In other Cognizant Technology Solutions news, CEO Francisco Dsouza sold 482,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total value of $34,723,280.00. Following the completion of the transaction, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at approximately $44,783,161.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Venkat Krishnaswamy sold 4,000 shares of Cognizant Technology Solutions stock in a transaction 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 of the company’s stock, valued at $293,925. The disclosure for this sale can be found here. Over the last three months, insiders have sold 578,077 shares of company stock valued at $41,690,414. 1.08% of the stock is currently owned by insiders.

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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.

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

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