Sheaff Brock Investment Advisors LLC acquired a new position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,468 shares of the information technology service provider’s stock, valued at approximately $252,000.

A number of other hedge funds also recently added to or reduced their stakes in CTSH. Acrospire Investment Management LLC boosted its holdings in Cognizant Technology Solutions by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after buying an additional 800 shares in the last quarter. WFG Advisors LP boosted its holdings in Cognizant Technology Solutions by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after buying an additional 621 shares in the last quarter. Krilogy Financial LLC purchased a new stake in Cognizant Technology Solutions during the second quarter worth about $137,000. BB&T Investment Services Inc. boosted its holdings in Cognizant Technology Solutions by 86.8% during the third quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after buying an additional 1,011 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Cognizant Technology Solutions during the third quarter worth about $167,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $70.43 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29. The firm has a market cap of $42,077.07, a P/E ratio of 21.30, a PEG ratio of 1.61 and a beta of 1.07. Cognizant Technology Solutions Corp has a 52-week low of $51.52 and a 52-week high of $76.51.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 18.52%.

A number of analysts recently commented on the stock. BMO Capital Markets reissued a “buy” rating and set a $78.00 price objective on shares of Cognizant Technology Solutions in a report on Tuesday. BidaskClub downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. Vetr raised shares of Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price target on the stock in a report on Wednesday, November 29th. Pivotal Research initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, November 8th. They issued a “buy” rating and a $93.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Six analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.91.

In other news, President Rajeev Mehta sold 32,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $72.02, for a total value of $2,304,640.00. Following the completion of the transaction, the president now owns 170,063 shares of the company’s stock, valued at $12,247,937.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the completion of the transaction, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at approximately $44,783,161.72. The disclosure for this sale can be found here. In the last three months, insiders sold 652,042 shares of company stock valued at $47,088,347. Company insiders own 1.08% of the company’s stock.

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About Cognizant Technology Solutions

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.

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

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