Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stock Holdings Increased by Stonegate Investment Group LLC

Stonegate Investment Group LLC boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,890 shares of the information technology service provider’s stock after purchasing an additional 271 shares during the period. Stonegate Investment Group LLC’s holdings in Cognizant Technology Solutions were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTSH. State Street Corp grew its holdings in shares of Cognizant Technology Solutions by 3.6% during the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after acquiring an additional 867,176 shares in the last quarter. Geode Capital Management LLC grew its stake in Cognizant Technology Solutions by 1.3% in the third quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock valued at $1,022,728,000 after purchasing an additional 173,667 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Cognizant Technology Solutions by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock worth $250,428,000 after purchasing an additional 44,129 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Cognizant Technology Solutions by 29.7% during the 3rd quarter. Bank of Montreal Can now owns 2,748,982 shares of the information technology service provider’s stock worth $211,369,000 after purchasing an additional 628,970 shares in the last quarter. Finally, ING Groep NV lifted its holdings in shares of Cognizant Technology Solutions by 61.5% during the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after buying an additional 943,372 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen increased their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Robert W. Baird raised their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho lifted their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. Fifteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $81.19.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $80.96 on Wednesday. The firm has a fifty day moving average price of $78.85 and a two-hundred day moving average price of $77.05. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $40.14 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. Analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.