Axa Has $26.92 Million Position in Cognizant Technology Solutions Corp (CTSH)

Axa boosted its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 11.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 371,160 shares of the information technology service provider’s stock after purchasing an additional 37,600 shares during the quarter. Axa owned about 0.06% of Cognizant Technology Solutions worth $26,924,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CTSH. Comerica Securities Inc. raised its position in shares of Cognizant Technology Solutions by 0.4% during the 2nd quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after buying an additional 32 shares in the last quarter. CWA Asset Management Group LLC raised its position in shares of Cognizant Technology Solutions by 1.0% during the 2nd quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock valued at $380,000 after buying an additional 57 shares in the last quarter. Westover Capital Advisors LLC raised its position in shares of Cognizant Technology Solutions by 2.2% during the 2nd quarter. Westover Capital Advisors LLC now owns 3,885 shares of the information technology service provider’s stock valued at $258,000 after buying an additional 83 shares in the last quarter. Frontier Wealth Management LLC raised its position in shares of Cognizant Technology Solutions by 1.0% during the 2nd quarter. Frontier Wealth Management LLC now owns 10,099 shares of the information technology service provider’s stock valued at $671,000 after buying an additional 99 shares in the last quarter. Finally, Blair William & Co. IL raised its position in shares of Cognizant Technology Solutions by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 32,694 shares of the information technology service provider’s stock valued at $2,171,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

In related news, VP Malcolm Frank sold 9,462 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total transaction of $668,111.82. Following the completion of the sale, the vice president now owns 15,533 shares of the company’s stock, valued at $1,096,785.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Venkat Krishnaswamy sold 4,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $75.00, for a total transaction of $300,000.00. Following the sale, the insider now directly owns 3,919 shares of the company’s stock, valued at approximately $293,925. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 578,077 shares of company stock worth $41,690,414. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corp (CTSH) opened at $72.08 on Monday. 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 one year low of $51.52 and a one year high of $76.51. The stock has a market cap of $42,501.61, a P/E ratio of 21.52, a PEG ratio of 1.62 and a beta of 1.07.

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

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

Several equities analysts recently commented on CTSH shares. Cantor Fitzgerald reiterated a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Oppenheimer reiterated a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Needham & Company LLC upgraded shares of Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating and upped their price target for the company from $78.00 to $90.00 in a report on Wednesday, November 1st. William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 1st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $89.00 price target (up from $80.00) on shares of Cognizant Technology Solutions in a report on Thursday, November 2nd. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $81.91.

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About Cognizant Technology Solutions

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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