Comgest Global Investors S.A.S. increased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 24.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,416,617 shares of the information technology service provider’s stock after acquiring an additional 1,461,800 shares during the quarter. Cognizant Technology Solutions Corporation makes up approximately 12.5% of Comgest Global Investors S.A.S.’s holdings, making the stock its 3rd biggest holding. Comgest Global Investors S.A.S. owned approximately 1.26% of Cognizant Technology Solutions Corporation worth $538,001,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its position in Cognizant Technology Solutions Corporation by 6.1% during 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 boosted its position in Cognizant Technology Solutions Corporation by 5.3% during 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 boosted its position in Cognizant Technology Solutions Corporation by 0.4% during 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. boosted its position in Cognizant Technology Solutions Corporation by 855.0% during 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 boosted its position in Cognizant Technology Solutions Corporation by 11.4% during 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. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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In related news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions Corporation stock in a transaction on Monday, August 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the sale, the insider now owns 360,856 shares of the company’s stock, valued at approximately $25,259,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Venkat Krishnaswamy sold 4,000 shares of Cognizant Technology Solutions Corporation stock in a transaction on Monday, November 6th. The stock was sold at an average price of $75.00, for a total transaction of $300,000.00. Following the sale, the insider now directly owns 3,919 shares in the company, valued at approximately $293,925. The disclosure for this sale can be found here. Insiders have sold a total of 244,918 shares of company stock worth $17,643,259 in the last ninety days. 1.08% of the stock is currently owned by insiders.

A number of analysts recently issued reports on the stock. Pivotal Research assumed coverage on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, November 8th. They set a “buy” rating and a $93.00 target price on the stock. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. SunTrust Banks, Inc. restated a “buy” rating and set a $85.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Friday, November 3rd. Sanford C. Bernstein raised their target price on shares of Cognizant Technology Solutions Corporation from $84.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley raised their target price on shares of Cognizant Technology Solutions Corporation from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and an average target price of $81.19.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up $0.41 during trading on Wednesday, reaching $74.97. 2,261,400 shares of the company traded hands, compared to its average volume of 3,989,663. Cognizant Technology Solutions Corporation has a 12-month low of $51.35 and a 12-month high of $76.51. The stock has a market cap of $43,963.93, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released 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. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. sell-side analysts predict that Cognizant Technology Solutions Corporation will post 3.35 earnings per share for the current year.

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

About Cognizant Technology Solutions Corporation

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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