The Davis R M Inc. Has $19.05 Million Position in Cognizant Technology Solutions Corporation (CTSH)

The Davis R M Inc. Has $19.05 Million Position in Cognizant Technology Solutions Corporation (CTSH)

A number of other hedge funds and other institutional investors have also modified their holdings of CTSH. CENTRAL TRUST Co increased its position in shares of Cognizant Technology Solutions Corporation by 13.8% in the first quarter. CENTRAL TRUST Co now owns 6,368 shares of the information technology service provider’s stock valued at $379,000 after buying an additional 770 shares during the period. Raymond James Trust N.A. increased its position in shares of Cognizant Technology Solutions Corporation by 10.2% in the first quarter. Raymond James Trust N.A. now owns 10,996 shares of the information technology service provider’s stock valued at $655,000 after buying an additional 1,016 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Cognizant Technology Solutions Corporation by 1.9% in the first quarter. Gulf International Bank UK Ltd now owns 186,615 shares of the information technology service provider’s stock valued at $11,107,000 after buying an additional 3,500 shares during the period. Koshinski Asset Management Inc. increased its position in shares of Cognizant Technology Solutions Corporation 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 period. Finally, National Pension Service increased its position in shares of Cognizant Technology Solutions Corporation by 7.0% in the first quarter. National Pension Service now owns 480,168 shares of the information technology service provider’s stock valued at $28,445,000 after buying an additional 31,575 shares during the period. Institutional investors own 89.21% of the company’s stock.

Davis R M Inc. raised its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,906 shares of the information technology service provider’s stock after buying an additional 15,886 shares during the period. Davis R M Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $19,051,000 as of its most recent filing with the SEC.

Cognizant Technology Solutions Corporation (CTSH) opened at 69.59 on Tuesday. The stock has a market capitalization of $40.99 billion, a PE ratio of 25.31 and a beta of 1.17. The firm has a 50-day moving average of $67.94 and a 200-day moving average of $62.02. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $71.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. On average, equities analysts expect that Cognizant Technology Solutions Corporation will post $3.69 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

CTSH has been the subject of several analyst reports. SunTrust Banks, Inc. upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Thursday, April 13th. Vetr upgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 price target for the company in a report on Friday, April 14th. Cantor Fitzgerald reiterated a “buy” rating and issued a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Finally, Credit Suisse Group set a $70.00 price target on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a report on Saturday, May 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $66.50.

In related news, COO Srinivasan Veeraraghavachary sold 3,069 shares of Cognizant Technology Solutions Corporation stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $65.00, for a total value of $199,485.00. Following the transaction, the chief operating officer now owns 24,737 shares in the company, valued at approximately $1,607,905. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Venkat Krishnaswamy sold 6,438 shares of Cognizant Technology Solutions Corporation stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $64.15, for a total transaction of $412,997.70. Following the completion of the transaction, the insider now owns 22,363 shares in the company, valued at approximately $1,434,586.45. The disclosure for this sale can be found here. Insiders sold a total of 51,783 shares of company stock worth $3,472,615 in the last quarter. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation 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.

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