Whitnell & Co. Trims Stock Holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH)
Whitnell & Co. lowered its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 29.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,400 shares of the information technology service provider’s stock after selling 8,925 shares during the period. Whitnell & Co.’s holdings in Cognizant Technology Solutions were worth $1,290,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of CTSH. Generation Investment Management LLP bought a new position in Cognizant Technology Solutions during the 2nd quarter valued at $662,915,000. Price T Rowe Associates Inc. MD raised its stake in shares of Cognizant Technology Solutions by 354.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,652,397 shares of the information technology service provider’s stock valued at $675,256,000 after acquiring an additional 8,307,253 shares during the last quarter. Genesis Investment Management LLP bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at approximately $187,097,000. Nuveen Asset Management LLC raised its stake in shares of Cognizant Technology Solutions by 15,091.4% in the second quarter. Nuveen Asset Management LLC now owns 2,298,909 shares of the information technology service provider’s stock valued at $145,727,000 after acquiring an additional 2,283,776 shares during the last quarter. Finally, Eaton Vance Management raised its stake in shares of Cognizant Technology Solutions by 481.4% in the second quarter. Eaton Vance Management now owns 2,136,682 shares of the information technology service provider’s stock valued at $135,444,000 after acquiring an additional 1,769,176 shares during the last quarter. 91.23% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Allen Shaheen sold 975 shares of Cognizant Technology Solutions stock in a transaction on Friday, September 13th. The shares were sold at an average price of $64.30, for a total transaction of $62,692.50. Following the completion of the transaction, the executive vice president now owns 2,010 shares of the company’s stock, valued at $129,243. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John E. Klein sold 10,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $61.13, for a total transaction of $611,300.00. Following the transaction, the director now directly owns 459,987 shares of the company’s stock, valued at approximately $28,119,005.31. The disclosure for this sale can be found here. Insiders have sold 18,823 shares of company stock valued at $1,169,337 in the last ninety days. Insiders own 0.56% of the company’s stock.
NASDAQ CTSH traded down $0.17 on Friday, reaching $62.86. The company had a trading volume of 1,858,000 shares, compared to its average volume of 4,136,774. The company’s fifty day moving average is $60.68 and its 200-day moving average is $62.73. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $74.85. The firm has a market capitalization of $34.28 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.53 and a current ratio of 2.53.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.03. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.21 billion. Cognizant Technology Solutions had a net margin of 12.60% and a return on equity of 20.23%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. On average, research analysts forecast that Cognizant Technology Solutions Corp will post 3.97 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, November 18th. Cognizant Technology Solutions’s payout ratio is currently 19.90%.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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