Cognizant Technology Solutions Corp (CTSH) Holding Reduced by Ameriprise Financial Inc.

Cognizant Technology Solutions Corp (CTSH) Holding Reduced by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 750,724 shares of the information technology service provider’s stock after selling 37,131 shares during the period. Ameriprise Financial Inc.’s holdings in Cognizant Technology Solutions Corp were worth $44,681,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Gratus Capital LLC raised its stake in Cognizant Technology Solutions Corp by 0.8% in the fourth quarter. Gratus Capital LLC now owns 5,039 shares of the information technology service provider’s stock valued at $282,000 after buying an additional 39 shares during the last quarter. Barrington Strategic Wealth Management Group LLC raised its stake in Cognizant Technology Solutions Corp by 0.6% in the fourth quarter. Barrington Strategic Wealth Management Group LLC now owns 14,050 shares of the information technology service provider’s stock valued at $787,000 after buying an additional 80 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Cognizant Technology Solutions Corp by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,779 shares of the information technology service provider’s stock valued at $1,949,000 after buying an additional 115 shares during the last quarter. First Personal Financial Services raised its stake in Cognizant Technology Solutions Corp by 1.1% in the third quarter. First Personal Financial Services now owns 11,541 shares of the information technology service provider’s stock valued at $550,000 after buying an additional 123 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its stake in Cognizant Technology Solutions Corp by 3.4% in the first quarter. Koshinski Asset Management Inc. now owns 3,930 shares of the information technology service provider’s stock valued at $234,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (CTSH) traded down 0.591% during trading on Tuesday, hitting $66.395. 565,654 shares of the company’s stock were exchanged. The stock has a market cap of $39.11 billion, a P/E ratio of 24.152 and a beta of 1.28. Cognizant Technology Solutions Corp has a one year low of $45.44 and a one year high of $67.13. The firm has a 50-day moving average price of $61.92 and a 200-day moving average price of $58.13.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) last announced its quarterly earnings results on Friday, May 5th. The information technology service provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. Cognizant Technology Solutions Corp had a net margin of 11.52% and a return on equity of 18.83%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts expect that Cognizant Technology Solutions Corp will post $3.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 23rd will be given a $0.15 dividend. The ex-dividend date is Thursday, May 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.90%.

A number of analysts have recently weighed in on CTSH shares. Vetr lowered shares of Cognizant Technology Solutions Corp from a “strong-buy” rating to a “buy” rating and set a $62.84 target price for the company. in a report on Wednesday, February 8th. BMO Capital Markets reiterated a “buy” rating and set a $60.00 target price on shares of Cognizant Technology Solutions Corp in a report on Thursday, February 9th. SunTrust Banks, Inc. upgraded shares of Cognizant Technology Solutions Corp from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Thursday, April 13th. Cantor Fitzgerald reiterated a “buy” rating and set a $67.00 target price on shares of Cognizant Technology Solutions Corp in a report on Friday, May 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price (up from $65.00) on shares of Cognizant Technology Solutions Corp in a report on Friday, May 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. Cognizant Technology Solutions Corp presently has a consensus rating of “Buy” and a consensus target price of $63.45.

In related news, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $65.32, for a total transaction of $97,980.00. Following the completion of the transaction, the insider now owns 12,015 shares in the company, valued at approximately $784,819.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen Shaheen sold 2,305 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $59.86, for a total transaction of $137,977.30. The disclosure for this sale can be found here. Insiders sold a total of 39,869 shares of company stock valued at $2,482,992 in the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Cognizant Technology Solutions Corp 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CTSH”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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