Baader Bank Aktiengesellschaft Increases Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Baader Bank Aktiengesellschaft increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 287.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,606 shares of the information technology service provider’s stock after purchasing an additional 9,349 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Cognizant Technology Solutions were worth $969,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position 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 buying an additional 867,176 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cognizant Technology Solutions by 1.3% during 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. boosted its stake in shares of Cognizant Technology Solutions by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock valued at $250,428,000 after purchasing an additional 44,129 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Cognizant Technology Solutions by 29.7% during the third quarter. Bank of Montreal Can now owns 2,748,982 shares of the information technology service provider’s stock valued at $211,369,000 after purchasing an additional 628,970 shares in the last quarter. Finally, ING Groep NV boosted its stake in shares of Cognizant Technology Solutions by 61.5% during the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after purchasing an additional 943,372 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $81.19 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market cap of $40.26 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.06 and a beta of 1.07. The firm has a 50 day simple moving average of $78.94 and a 200 day simple moving average of $77.11. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.46.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTSH. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $95.00 in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, TD Cowen lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $81.19.

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.