Sora Investors LLC Takes $10.48 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Sora Investors LLC purchased a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 135,793 shares of the information technology service provider's stock, valued at approximately $10,481,000. Cognizant Technology Solutions makes up about 1.8% of Sora Investors LLC's holdings, making the stock its 22nd largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 2nd quarter worth $25,000. Addison Advisors LLC increased its position in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Cognizant Technology Solutions during the third quarter worth about $30,000. Pinnacle Bancorp Inc. boosted its holdings in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock valued at $35,000 after purchasing an additional 146 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTSH has been the topic of several analyst reports. Mizuho lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $79.47.

Cognizant Technology Solutions Stock Up 0.4 %

CTSH stock traded up $0.34 during mid-day trading on Friday, reaching $81.07. The company had a trading volume of 1,008,720 shares, compared to its average volume of 3,774,525. The firm has a fifty day simple moving average of $77.79 and a 200 day simple moving average of $74.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market capitalization of $40.20 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 2.20 and a beta of 1.06. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. Analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company's stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.