ING Groep NV Grows Holdings in Cognizant Technology Solutions Corp (CTSH)

ING Groep NV grew its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 39.8% during the fourth quarter, HoldingsChannel reports. The firm owned 140,747 shares of the information technology service provider’s stock after acquiring an additional 40,066 shares during the quarter. ING Groep NV’s holdings in Cognizant Technology Solutions were worth $9,996,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Shine Investment Advisory Services Inc. raised its stake in shares of Cognizant Technology Solutions by 108.8% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after acquiring an additional 788 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at $121,000. Cerebellum GP LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $128,000. WFG Advisors LP raised its stake in shares of Cognizant Technology Solutions by 46.4% in the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after acquiring an additional 621 shares in the last quarter. Finally, Krilogy Financial LLC acquired a new stake in shares of Cognizant Technology Solutions in the second quarter valued at $137,000. Institutional investors own 86.95% of the company’s stock.

Several analysts have recently issued reports on the company. Needham & Company LLC increased their price objective on Cognizant Technology Solutions from $90.00 to $100.00 and gave the company a “strong-buy” rating in a research note on Thursday. BMO Capital Markets increased their price objective on Cognizant Technology Solutions to $86.00 and gave the company an “outperform” rating in a research note on Thursday. Cowen reiterated a “buy” rating and issued a $90.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday. SunTrust Banks reiterated a “buy” rating and issued a $90.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday. Finally, Pivotal Research reiterated a “buy” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $83.52.

In other Cognizant Technology Solutions news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $75.44, for a total transaction of $1,886,000.00. Following the transaction, the insider now owns 271,300 shares of the company’s stock, valued at $20,466,872. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Francisco Dsouza sold 482,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 621,643 shares in the company, valued at approximately $44,783,161.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 961,064 shares of company stock worth $70,504,403. Corporate insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $76.52 on Thursday. The company has a market capitalization of $43,574.77, a price-to-earnings ratio of 23.62, a P/E/G ratio of 1.49 and a beta of 1.11. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a twelve month low of $54.76 and a twelve month high of $79.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.88 by $0.15. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. Cognizant Technology Solutions’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. equities analysts expect that Cognizant Technology Solutions Corp will post 3.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 18.52%.

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Cognizant Technology Solutions 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.

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

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