TD Asset Management Inc. Increases Stake in Cognizant Technology Solutions Corp (CTSH)

TD Asset Management Inc. grew its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,704 shares of the information technology service provider’s stock after buying an additional 8,698 shares during the quarter. TD Asset Management Inc.’s holdings in Cognizant Technology Solutions were worth $17,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Lenox Wealth Management Inc. lifted its holdings in Cognizant Technology Solutions by 15.0% in the 1st quarter. Lenox Wealth Management Inc. now owns 1,102 shares of the information technology service provider’s stock worth $80,000 after purchasing an additional 144 shares during the last quarter. Plimoth Trust Co. LLC lifted its holdings in Cognizant Technology Solutions by 0.6% in the 4th quarter. Plimoth Trust Co. LLC now owns 24,088 shares of the information technology service provider’s stock worth $1,529,000 after purchasing an additional 145 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in Cognizant Technology Solutions by 1.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 11,828 shares of the information technology service provider’s stock worth $751,000 after purchasing an additional 152 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Cognizant Technology Solutions by 2.0% in the 4th quarter. Van ECK Associates Corp now owns 8,038 shares of the information technology service provider’s stock worth $510,000 after purchasing an additional 155 shares during the last quarter. Finally, Kaizen Advisory LLC lifted its holdings in Cognizant Technology Solutions by 11.7% in the 4th quarter. Kaizen Advisory LLC now owns 1,596 shares of the information technology service provider’s stock worth $101,000 after purchasing an additional 167 shares during the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.

Several equities research analysts recently weighed in on the company. Daiwa Capital Markets lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Zacks Investment Research lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Oppenheimer lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a report on Friday, May 3rd. Nomura lowered Cognizant Technology Solutions to a “hold” rating in a report on Friday, May 3rd. Finally, BidaskClub lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday, February 23rd. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $75.55.

Shares of NASDAQ CTSH opened at $61.87 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $35.22 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95. Cognizant Technology Solutions Corp has a 12 month low of $56.73 and a 12 month high of $83.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.12). The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. On average, research analysts forecast that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

In other news, General Counsel Matthew W. Friedrich sold 2,877 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $71.71, for a total transaction of $206,309.67. Following the sale, the general counsel now directly owns 800 shares in the company, valued at $57,368. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert Telesmanic sold 3,343 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $60.00, for a total value of $200,580.00. Following the sale, the senior vice president now owns 7,337 shares in the company, valued at $440,220. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,820 shares of company stock worth $3,402,075. Company insiders own 0.56% of the company’s stock.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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