Suncoast Equity Management lowered its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,948 shares of the information technology service provider’s stock after selling 1,398 shares during the period. Cognizant Technology Solutions Corporation comprises about 3.3% of Suncoast Equity Management’s investment portfolio, making the stock its 17th biggest holding. Suncoast Equity Management’s holdings in Cognizant Technology Solutions Corporation were worth $11,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. DekaBank Deutsche Girozentrale lifted its holdings in Cognizant Technology Solutions Corporation by 6.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 250,892 shares of the information technology service provider’s stock worth $18,190,000 after acquiring an additional 14,441 shares during the last quarter. Veritas Investment Management LLP lifted its holdings in Cognizant Technology Solutions Corporation by 5.3% in the third quarter. Veritas Investment Management LLP now owns 750,952 shares of the information technology service provider’s stock worth $54,463,000 after acquiring an additional 37,560 shares during the last quarter. Rhumbline Advisers lifted its holdings in Cognizant Technology Solutions Corporation by 0.4% in the third quarter. Rhumbline Advisers now owns 989,132 shares of the information technology service provider’s stock worth $71,752,000 after acquiring an additional 4,377 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Cognizant Technology Solutions Corporation by 855.0% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 153,713 shares of the information technology service provider’s stock worth $11,150,000 after acquiring an additional 137,618 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Cognizant Technology Solutions Corporation by 11.4% in the third quarter. Toronto Dominion Bank now owns 228,406 shares of the information technology service provider’s stock worth $16,568,000 after acquiring an additional 23,440 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

CTSH has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Tuesday, October 10th. Robert W. Baird lifted their price target on Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Bank of America Corporation reaffirmed a “buy” rating and set a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, November 3rd. Finally, KeyCorp reaffirmed a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, September 8th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Cognizant Technology Solutions Corporation currently has a consensus rating of “Buy” and an average target price of $81.19.

In other Cognizant Technology Solutions Corporation news, President Rajeev Mehta sold 32,000 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $71.02, for a total transaction of $2,272,640.00. Following the transaction, the president now directly owns 187,965 shares in the company, valued at approximately $13,349,274.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $72.00, for a total transaction of $180,000.00. Following the transaction, the chief operating officer now owns 24,665 shares in the company, valued at $1,775,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,169 shares of company stock worth $18,015,096. Corporate insiders own 1.08% of the company’s stock.

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Cognizant Technology Solutions Corporation (CTSH) traded up $0.40 during trading on Tuesday, reaching $74.96. 1,214,908 shares of the company’s stock traded hands, compared to its average volume of 3,997,555. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. The firm has a market capitalization of $43,787.04, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10. Cognizant Technology Solutions Corporation has a 12-month low of $51.35 and a 12-month high of $76.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. analysts predict that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, November 17th. Cognizant Technology Solutions Corporation’s payout ratio is 18.52%.

Cognizant Technology Solutions Corporation 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 Corporation (NASDAQ:CTSH)

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