Nisa Investment Advisors LLC Buys 13,150 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Nisa Investment Advisors LLC raised its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 265,691 shares of the information technology service provider’s stock after acquiring an additional 13,150 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $16,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its holdings in Cognizant Technology Solutions by 3.7% in the second quarter. BlackRock Inc. now owns 48,909,575 shares of the information technology service provider’s stock valued at $3,100,379,000 after purchasing an additional 1,756,108 shares during the period. Price T Rowe Associates Inc. MD boosted 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 worth $675,256,000 after acquiring an additional 8,307,253 shares during the last quarter. Generation Investment Management LLP acquired a new stake in shares of Cognizant Technology Solutions in the second quarter worth approximately $662,915,000. Comgest Global Investors S.A.S. boosted its stake in shares of Cognizant Technology Solutions by 11.3% in the second quarter. Comgest Global Investors S.A.S. now owns 8,985,214 shares of the information technology service provider’s stock worth $569,573,000 after acquiring an additional 915,000 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Cognizant Technology Solutions by 0.9% in the second quarter. Northern Trust Corp now owns 7,727,422 shares of the information technology service provider’s stock worth $489,842,000 after acquiring an additional 71,620 shares during the last quarter. 91.23% of the stock is currently owned by institutional investors.

CTSH has been the topic of a number of research analyst reports. HSBC lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating and lowered their price target for the stock from $72.00 to $70.00 in a research note on Tuesday, July 23rd. Citigroup reduced their price objective on Cognizant Technology Solutions from $76.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays reduced their price objective on Cognizant Technology Solutions from $64.00 to $60.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. BMO Capital Markets reduced their target price on Cognizant Technology Solutions to $75.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Finally, TheStreet upgraded Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $71.48.

Shares of Cognizant Technology Solutions stock traded down $0.17 on Friday, hitting $62.86. The stock had a trading volume of 1,858,000 shares, compared to its average volume of 4,136,774. The company’s 50 day moving average price is $60.68 and its 200 day moving average price is $62.73. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.13. Cognizant Technology Solutions Corp has a 52-week low of $56.73 and a 52-week high of $74.85. The stock has a market cap of $34.28 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.42 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.05 by $0.03. Cognizant Technology Solutions had a net margin of 12.60% and a return on equity of 20.23%. The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the company posted $1.05 EPS. Cognizant Technology Solutions’s revenue was up 4.2% on a year-over-year basis. Analysts predict that Cognizant Technology Solutions Corp will post 3.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, November 18th. Cognizant Technology Solutions’s payout ratio is presently 19.90%.

In related news, EVP Allen Shaheen sold 1,091 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $62.14, for a total value of $67,794.74. Following the completion of the sale, the executive vice president now owns 2,010 shares of the company’s stock, valued at approximately $124,901.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John E. Klein sold 10,000 shares of the business’s 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. In the last ninety days, insiders sold 18,823 shares of company stock valued at $1,169,337. 0.56% of the stock is owned by company insiders.

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

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